Simmons First National (NASDAQ:SFNC) Reaches New 12-Month High - Still a Buy?

Key Points

• Simmons First National reached a 52-week high of $24.50, then traded at $23.84, up 1.6% from its previous close.
• Quarterly EPS of $0.54 slightly beat the $0.53 consensus, while revenue of $251.17 million fell short of estimates; revenue was up 8% year over year.
• Analysts have a consensus “Moderate Buy” rating and a $25.69 price target. The bank’s $0.86 annualized dividend implies a 3.6% yield.

Shares of Simmons First National Corporation (NASDAQ:SFNC - Get Free Report) hit a new 52-week high on Wednesday. The stock traded as high as $24.50 and last traded at $23.84, with a volume of 109,763 shares changing hands. The stock had previously closed at $23.51.

Analyst Upgrades and Downgrades

SFNC has been the topic of several recent research reports. DA Davidson upped their price objective on Simmons First National from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, October 19th. Morgan Stanley lifted their target price on shares of Simmons First National from $26.00 to $27.00 and gave the company an "underweight" rating in a report on Monday, October 19th. Keefe, Bruyette & Woods cut their target price on shares of Simmons First National from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Monday, October 19th. National Bank Financial set a $26.00 target price on shares of Simmons First National in a research note on Friday, September 4th. Finally, Piper Sandler upgraded shares of Simmons First National from an "underweight" rating to an "overweight" rating and raised their price target for the company from $26.00 to $27.50 in a research report on Friday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.69.

Simmons First National Stock Up 1.6%

The business has a fifty day simple moving average of $22.83 and a 200 day simple moving average of $21.76. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 13.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.95.

Simmons First National (NASDAQ:SFNC - Get Free Report) last issued its quarterly earnings results on Thursday, October 15th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. Simmons First National had a return on equity of 8.73% and a net margin of 18.38%. The firm had revenue of $251.17 million for the quarter, compared to analyst estimates of $254.03 million. During the same period in the previous year, the company posted $0.46 earnings per share. The business's revenue was up 8.0% on a year-over-year basis. As a group, equities analysts forecast that Simmons First National Corporation will post 2.08 EPS for the current fiscal year.

Simmons First National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.2150 per share. This represents a $0.86 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 15th. Simmons First National's payout ratio is 48.04%.

Institutional Investors Weigh In On Simmons First National

A number of large investors have recently modified their holdings of the business. Heritage Family Offices LLP purchased a new position in Simmons First National in the 3rd quarter worth approximately $45,000. ProShare Advisors LLC grew its position in shares of Simmons First National by 38.8% in the third quarter. ProShare Advisors LLC now owns 445,896 shares of the bank's stock valued at $10,068,000 after purchasing an additional 124,531 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Simmons First National in the third quarter valued at approximately $42,000. Nisa Investment Advisors LLC grew its position in shares of Simmons First National by 11.3% in the third quarter. Nisa Investment Advisors LLC now owns 5,116 shares of the bank's stock valued at $117,000 after purchasing an additional 521 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Simmons First National in the third quarter valued at approximately $656,000. Hedge funds and other institutional investors own 27.58% of the company's stock.

Simmons First National Company Profile

Simmons First National Corporation is a financial holding company headquartered in Pine Bluff, Arkansas. Its principal subsidiary, Simmons Bank, provides banking and financial services to individuals, families, businesses and institutions.

The bank offers deposit accounts, consumer and commercial lending, residential and commercial real estate financing, treasury and cash-management services, credit cards, and online and mobile banking. It also provides wealth management, trust, investment and insurance services through specialized business lines.

Founded in 1903, Simmons has expanded from its Arkansas roots into a regional banking franchise serving customers through branches and financial centers across Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee and Texas.

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