Simmons First National (NASDAQ:SFNC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Simmons First National reported a quarterly earnings per share (EPS) of $0.46, missing the consensus estimate of $0.48 by **$0.02**.
• The company's stock decreased by **5.2%** following the earnings announcement, with shares trading at **$18.02**.
• Simmons First National declared a quarterly dividend of **$0.2125**, yielding approximately **4.7%** annually, with a payout ratio of **66.93%**.

Simmons First National (NASDAQ:SFNC - Get Free Report) posted its earnings results on Thursday. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01), Zacks reports. Simmons First National had a net margin of 11.19% and a return on equity of 5.23%. The business's revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share.

Simmons First National Price Performance

Shares of Simmons First National stock traded down $0.98 on Thursday, hitting $18.02. 1,861,408 shares of the company were exchanged, compared to its average volume of 863,504. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $19.92 and a 200 day moving average price of $19.36. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 14.19 and a beta of 0.94. Simmons First National has a 1-year low of $17.20 and a 1-year high of $25.95.

Simmons First National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Monday, September 15th. Simmons First National's dividend payout ratio (DPR) is 66.93%.

Insider Transactions at Simmons First National

In related news, Director Russell William Teubner purchased 9,200 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $18.62 per share, with a total value of $171,304.00. Following the completion of the acquisition, the director owned 53,220 shares in the company, valued at $990,956.40. This trade represents a 20.90% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Charles Daniel Hobbs acquired 5,400 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was purchased at an average cost of $18.50 per share, with a total value of $99,900.00. Following the acquisition, the chief financial officer directly owned 10,213 shares of the company's stock, valued at $188,940.50. This trade represents a 112.20% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 100,755 shares of company stock valued at $1,865,332. 1.44% of the stock is currently owned by company insiders.

Institutional Trading of Simmons First National

Several hedge funds have recently made changes to their positions in SFNC. Qube Research & Technologies Ltd grew its holdings in shares of Simmons First National by 41.7% in the second quarter. Qube Research & Technologies Ltd now owns 922,284 shares of the bank's stock valued at $17,487,000 after purchasing an additional 271,257 shares in the last quarter. Invesco Ltd. grew its stake in shares of Simmons First National by 14.0% in the second quarter. Invesco Ltd. now owns 1,731,794 shares of the bank's stock worth $32,835,000 after acquiring an additional 212,988 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Simmons First National in the first quarter worth $3,006,000. AQR Capital Management LLC raised its stake in shares of Simmons First National by 89.0% in the second quarter. AQR Capital Management LLC now owns 300,286 shares of the bank's stock valued at $5,693,000 after acquiring an additional 141,430 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Simmons First National in the second quarter valued at $2,418,000. Institutional investors and hedge funds own 27.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SFNC. DA Davidson lifted their price objective on shares of Simmons First National from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Simmons First National from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Zacks Research cut shares of Simmons First National from a "strong-buy" rating to a "hold" rating in a report on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Simmons First National from $21.00 to $22.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Simmons First National in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.75.

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.