Simmons First National (NASDAQ:SFNC) Issues Earnings Results

Key Points

• Simmons First National reported quarterly EPS of $0.50, coming in below the consensus estimate of $0.53. Revenue also slightly missed expectations at $248.57 million versus $250.98 million forecast.
• The stock was up 0.1% in trading after the announcement, reaching $23.25 on heavier-than-normal volume. Shares remain near their 52-week high of $23.91.
• The bank continues to pay a quarterly dividend of $0.215 per share, implying an annualized yield of 3.7%. Analysts currently have a consensus rating of Moderate Buy with a target price of $23.00.

Simmons First National (NASDAQ:SFNC - Get Free Report) issued its quarterly earnings results on Thursday. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03), FiscalAI reports. Simmons First National had a negative net margin of 25.44% and a positive return on equity of 7.81%. The firm had revenue of $248.57 million for the quarter, compared to analyst estimates of $250.98 million.

Simmons First National Trading Up 0.1%

SFNC stock traded up $0.02 during mid-day trading on Thursday, reaching $23.25. 3,517,989 shares of the stock traded hands, compared to its average volume of 1,277,914. Simmons First National has a 52-week low of $17.00 and a 52-week high of $23.91. The stock's fifty day moving average is $21.90 and its 200-day moving average is $20.76. The company has a market cap of $3.37 billion, a P/E ratio of -9.08 and a beta of 0.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.

Simmons First National Dividend Announcement

The company also recently disclosed 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 of this dividend 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 is currently -33.59%.

Analysts Set New Price Targets

Several brokerages have commented on SFNC. Zacks Research cut shares of Simmons First National from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings raised shares of Simmons First National from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, April 24th. Stephens raised their target price 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. National Bank Financial set a $24.00 price target on shares of Simmons First National in a research report on Monday, June 29th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $21.00 price target on shares of Simmons First National in a report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Institutional Investors Weigh In On Simmons First National

A number of large investors have recently made changes to their positions in SFNC. EverSource Wealth Advisors LLC grew its position in Simmons First National by 197.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank's stock worth $32,000 after purchasing an additional 1,104 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Simmons First National by 32.0% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank's stock valued at $50,000 after purchasing an additional 644 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Simmons First National in the fourth quarter valued at $192,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Simmons First National in the fourth quarter worth $218,000. Finally, Beacon Pointe Advisors LLC grew its holdings in shares of Simmons First National by 9.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 12,080 shares of the bank's stock valued at $228,000 after buying an additional 1,007 shares in 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 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.

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