Simmons First National (NASDAQ:SFNC - Get Free Report) posted its earnings results on Thursday, April 16th. The bank reported $0.47 EPS for the quarter, meeting analysts' consensus estimates of $0.47, Zacks reports. The company had revenue of $241.37 million during the quarter, compared to analysts' expectations of $243.02 million. Simmons First National had a negative net margin of 25.44% and a positive return on equity of 7.81%. Simmons First National's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share.
Simmons First National Stock Performance
Simmons First National stock traded down $0.32 during mid-day trading on Wednesday, reaching $20.58. 861,236 shares of the company traded hands, compared to its average volume of 1,191,228. The firm's fifty day moving average is $20.14 and its two-hundred day moving average is $19.62. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -8.04 and a beta of 0.92. Simmons First National has a fifty-two week low of $17.00 and a fifty-two week high of $22.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on SFNC shares. National Bank Financial set a $21.00 price target on Simmons First National in a research report on Wednesday, January 21st. Zacks Research cut Simmons First National from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Stephens boosted their target price on Simmons First National from $24.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. Weiss Ratings raised Simmons First National from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, April 24th. Finally, Raymond James Financial raised Simmons First National from a "market perform" rating to an "outperform" rating and set a $23.00 target price on the stock in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.00.
Read Our Latest Analysis on Simmons First National
Institutional Investors Weigh In On Simmons First National
A number of large investors have recently made changes to their positions in the stock. State Street Corp raised its stake in Simmons First National by 5.4% in the 4th quarter. State Street Corp now owns 7,569,943 shares of the bank's stock worth $144,223,000 after acquiring an additional 389,634 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Simmons First National by 1.0% in the fourth quarter. Wellington Management Group LLP now owns 6,814,476 shares of the bank's stock valued at $128,453,000 after purchasing an additional 70,486 shares during the period. Northern Trust Corp raised its stake in shares of Simmons First National by 2.1% in the third quarter. Northern Trust Corp now owns 4,508,330 shares of the bank's stock worth $86,425,000 after purchasing an additional 91,596 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Simmons First National by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,005,654 shares of the bank's stock worth $37,807,000 after purchasing an additional 18,300 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Simmons First National by 14.0% during the second quarter. Invesco Ltd. now owns 1,731,794 shares of the bank's stock worth $32,835,000 after purchasing an additional 212,988 shares during the period. 27.58% of the stock is owned by hedge funds and other institutional investors.
Simmons First National announced that its board has authorized a stock repurchase program on Tuesday, February 17th that authorizes the company to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
About Simmons First National
(
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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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