Simmons First National’s (SFNC) “Neutral” Rating Reiterated at DA Davidson

DA Davidson reissued their neutral rating on shares of Simmons First National (NASDAQ:SFNC) in a research report report published on Friday,Benzinga reports. The firm currently has a $23.00 target price on the bank’s stock.

Several other equities research analysts also recently issued reports on the stock. Zacks Research downgraded shares of Simmons First National from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Weiss Ratings upgraded shares of Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Morgan Stanley reissued a “positive” rating on shares of Simmons First National in a report on Monday, June 29th. National Bank Financial set a $24.00 price target on shares of Simmons First National in a research report on Monday, June 29th. Finally, Stephens boosted their price objective on shares of Simmons First National from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.67.

Simmons First National Stock Performance

SFNC opened at $22.95 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $21.97 and its two-hundred day moving average price is $20.81. The firm has a market capitalization of $3.33 billion, a P/E ratio of -9.07 and a beta of 0.90. Simmons First National has a 12-month low of $17.00 and a 12-month high of $23.91.

Simmons First National (NASDAQ:SFNC) last issued its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Simmons First National had a positive return on equity of 8.32% and a negative net margin of 24.64%.The business had revenue of $248.57 million for the quarter, compared to analyst estimates of $250.98 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities analysts forecast that Simmons First National will post 2.08 earnings per share for the current year.

Simmons First National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a dividend of $0.215 per share. The ex-dividend date was Monday, June 15th. This represents a $0.86 dividend on an annualized basis and a yield of 3.7%. Simmons First National’s dividend payout ratio (DPR) is currently -33.99%.

Institutional Investors Weigh In On Simmons First National

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in shares of Simmons First National during the 3rd quarter worth approximately $129,282,000. Basswood Capital Management L.L.C. boosted its stake in Simmons First National by 325.7% in the 4th quarter. Basswood Capital Management L.L.C. now owns 1,143,055 shares of the bank’s stock valued at $21,547,000 after buying an additional 874,513 shares in the last quarter. Leeward Investments LLC MA bought a new stake in Simmons First National in the first quarter valued at $15,744,000. Goldman Sachs Group Inc. grew its position in Simmons First National by 97.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,469,594 shares of the bank’s stock valued at $27,702,000 after acquiring an additional 725,489 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Simmons First National by 58.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,595,939 shares of the bank’s stock valued at $30,083,000 after acquiring an additional 587,082 shares during the period. 27.58% of the stock is currently owned by institutional investors.

Simmons First National News Roundup

Here are the key news stories impacting Simmons First National this week:

• Positive Sentiment: Adjusted earnings of $0.50 per share and revenue growth of 16.1% year over year indicate the business is still expanding. Simmons First National Corporation Reports Second Quarter Results
• Positive Sentiment: The bank maintained a stable net interest margin and reported improved deposit mix, which supports profitability. Simmons First National Corporation Reports Second Quarter Results
• Neutral Sentiment: DA Davidson reaffirmed its neutral rating and set a $23 price target, only slightly above the recent share price, suggesting limited near-term upside. Benzinga
• Negative Sentiment: The modest earnings and revenue misses versus analyst estimates likely pressured the stock, as investors focused on the quarter coming in below expectations. Simmons First National (SFNC) Lags Q2 Earnings and Revenue Estimates

About Simmons First National

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.