DA Davidson Equities Analysts Reduce Earnings Estimates for Simmons First National Co. (NASDAQ:SFNC)

Simmons First National Co. (NASDAQ:SFNC - Free Report) - Equities researchers at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for Simmons First National in a research report issued to clients and investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings of $1.29 per share for the year, down from their prior forecast of $1.60. The consensus estimate for Simmons First National's current full-year earnings is $1.42 per share.

SFNC has been the topic of a number of other research reports. Robert W. Baird lifted their target price on Simmons First National from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, January 25th. StockNews.com cut Simmons First National from a "hold" rating to a "sell" rating in a report on Friday, February 2nd.

Simmons First National Trading Up 4.0 %

Simmons First National stock traded up $0.71 during midday trading on Friday, reaching $18.40. The stock had a trading volume of 534,553 shares, compared to its average volume of 519,589. Simmons First National has a twelve month low of $13.36 and a twelve month high of $20.82. The stock has a market capitalization of $2.31 billion, a PE ratio of 13.33 and a beta of 0.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.77. The stock's 50-day simple moving average is $18.77 and its 200 day simple moving average is $17.93.

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

Simmons First National Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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 4.57%. The ex-dividend date was Thursday, March 14th. This is a boost from Simmons First National's previous quarterly dividend of $0.20. Simmons First National's payout ratio is currently 60.87%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SFNC. Vanguard Group Inc. increased its position in shares of Simmons First National by 0.9% during the third quarter. Vanguard Group Inc. now owns 15,258,997 shares of the bank's stock worth $332,494,000 after acquiring an additional 135,615 shares during the last quarter. State Street Corp increased its holdings 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 buying an additional 318,383 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 buying an additional 109,728 shares during the last quarter. Simmons Bank increased its holdings 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 buying an additional 175,716 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings 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 buying an additional 13,597 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company's stock.

Simmons First National Company Profile

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.