Simmons First National (NASDAQ:SFNC) Downgraded to Hold Rating by Zacks Research

Key Points

• Simmons First National has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting a shift in analysts' sentiment towards the stock.
• Despite the downgrade, Simmons First National has seen price target adjustments from various analysts, with DA Davidson increasing their target from $21.00 to $23.00, while Weiss Ratings reaffirmed a "hold" rating.
• Insider activity shows significant purchasing of shares by directors, with purchases exceeding $400,000 combined, indicating potential confidence in the company's future performance.

Simmons First National (NASDAQ:SFNC - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. DA Davidson lifted their price objective on Simmons First National from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised Simmons First National from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Simmons First National in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their target price on Simmons First National from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.75.

Simmons First National Stock Performance

SFNC stock opened at $19.45 on Monday. The stock has a 50-day moving average price of $19.93 and a 200-day moving average price of $19.38. Simmons First National has a 1-year low of $17.20 and a 1-year high of $25.95. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.81 billion, a PE ratio of 15.32 and a beta of 0.94.

Simmons First National (NASDAQ:SFNC - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. Simmons First National had a return on equity of 5.23% and a net margin of 11.19%.The firm had revenue of $214.18 million during the quarter, compared to analyst estimates of $217.21 million. During the same period last year, the company posted $0.33 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts expect that Simmons First National will post 1.66 earnings per share for the current year.

Insider Buying and Selling at Simmons First National

In related news, Director Russell William Teubner purchased 9,200 shares of the business's stock in a transaction on Thursday, August 7th. The stock was acquired at an average price of $18.62 per share, for a total transaction of $171,304.00. Following the purchase, the director owned 53,220 shares of the company's stock, valued at approximately $990,956.40. This trade represents a 20.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Cosse purchased 13,500 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were bought at an average price of $18.50 per share, with a total value of $249,750.00. Following the purchase, the director directly owned 104,120 shares in the company, valued at approximately $1,926,220. The trade was a 14.90% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 100,755 shares of company stock worth $1,865,332. 1.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Simmons First National

Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of Simmons First National by 2.7% in the first quarter. Principal Financial Group Inc. now owns 691,328 shares of the bank's stock valued at $14,193,000 after acquiring an additional 17,888 shares in the last quarter. Sowell Financial Services LLC grew its holdings in shares of Simmons First National by 7.7% in the first quarter. Sowell Financial Services LLC now owns 14,738 shares of the bank's stock valued at $303,000 after acquiring an additional 1,056 shares in the last quarter. KBC Group NV grew its holdings in shares of Simmons First National by 18.7% in the first quarter. KBC Group NV now owns 7,231 shares of the bank's stock valued at $148,000 after acquiring an additional 1,140 shares in the last quarter. Magnetar Financial LLC purchased a new position in Simmons First National in the first quarter valued at approximately $318,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Simmons First National during the first quarter worth $1,086,000. 27.58% of the stock is owned by institutional investors.

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.

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