DA Davidson Weighs in on Simmons First National Co.'s Q1 2024 Earnings (NASDAQ:SFNC)

Simmons First National Co. (NASDAQ:SFNC - Free Report) - Investment analysts at DA Davidson reduced their Q1 2024 earnings estimates for Simmons First National in a note issued to investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $0.31 per share for the quarter, down from their prior forecast of $0.33. The consensus estimate for Simmons First National's current full-year earnings is $1.42 per share. DA Davidson also issued estimates for Simmons First National's FY2025 earnings at $1.58 EPS.

Simmons First National (NASDAQ:SFNC - Get Free Report) last announced its earnings results on Wednesday, January 24th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. Simmons First National had a net margin of 12.82% and a return on equity of 6.19%. The company had revenue of $197.80 million for the quarter, compared to analyst estimates of $204.25 million. During the same period in the prior year, the business earned $0.64 earnings per share. Simmons First National's quarterly revenue was down 15.3% on a year-over-year basis.

A number of other equities analysts have also issued reports on the stock. StockNews.com lowered shares of Simmons First National from a "hold" rating to a "sell" rating in a research report on Friday, February 2nd. Robert W. Baird upped their target price on shares of Simmons First National from $20.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, January 25th.

Simmons First National Price Performance

Shares of SFNC stock traded up $0.23 during trading hours on Thursday, reaching $17.69. 436,578 shares of the company were exchanged, compared to its average volume of 519,390. Simmons First National has a fifty-two week low of $13.36 and a fifty-two week high of $20.82. The stock's fifty day moving average is $18.77 and its two-hundred day moving average is $17.92. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 12.65 and a beta of 0.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.77 and a quick ratio of 0.77.

Institutional Investors Weigh In On Simmons First National

A number of institutional investors and hedge funds have recently modified their holdings of SFNC. Vanguard Group Inc. increased its stake in Simmons First National by 0.9% in the third quarter. Vanguard Group Inc. now owns 15,258,997 shares of the bank's stock valued at $332,494,000 after purchasing an additional 135,615 shares in the last quarter. State Street Corp increased its stake in Simmons First National by 5.0% in the second quarter. State Street Corp now owns 6,736,788 shares of the bank's stock valued at $144,446,000 after purchasing an additional 318,383 shares in the last quarter. Geode Capital Management LLC increased its stake in Simmons First National by 4.4% in the second quarter. Geode Capital Management LLC now owns 2,610,050 shares of the bank's stock valued at $45,023,000 after purchasing an additional 109,728 shares in the last quarter. Simmons Bank increased its stake in Simmons First National by 9.8% in the fourth quarter. Simmons Bank now owns 1,977,793 shares of the bank's stock valued at $39,239,000 after purchasing an additional 175,716 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Simmons First National by 0.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,730,052 shares of the bank's stock valued at $45,362,000 after purchasing an additional 13,597 shares in the last quarter. 27.58% of the stock is owned by institutional investors.

Simmons First National Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.75%. This is an increase from Simmons First National's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, March 14th. Simmons First National's payout ratio is 60.87%.

About Simmons First National

Simmons First National Corporation operates as the holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses. The company offers checking, savings, and time deposits; consumer, real estate, and commercial loans; agricultural finance, equipment, and small business administration lending; trust and fiduciary services; credit cards; investment management products; treasury management; insurance products; and securities and investment services.