Simmons First National (NASDAQ:SFNC) Sees Strong Trading Volume After Analyst Upgrade

Shares of Simmons First National Corporation (NASDAQ:SFNC - Get Free Report) saw unusually-high trading volume on Wednesday after DA Davidson raised their price target on the stock from $21.00 to $23.00. DA Davidson currently has a neutral rating on the stock. Approximately 1,355,898 shares were traded during mid-day trading, an increase of 98% from the previous session's volume of 684,576 shares.The stock last traded at $19.80 and had previously closed at $19.71.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of Simmons First National from $21.00 to $22.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Piper Sandler upgraded shares of Simmons First National from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $20.00 to $21.00 in a research note on Monday, April 21st. Stephens lowered their price target on shares of Simmons First National from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Wall Street Zen raised shares of Simmons First National from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Simmons First National presently has an average rating of "Hold" and a consensus price target of $22.75.

Insider Buying and Selling at Simmons First National

In related news, Director Steven A. Cosse acquired 13,500 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were acquired at an average cost of $18.50 per share, with a total value of $249,750.00. Following the completion of the acquisition, the director directly owned 104,120 shares in the company, valued at approximately $1,926,220. This trade represents a 14.90% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George Makris, Jr. purchased 28,075 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average price of $18.50 per share, for a total transaction of $519,387.50. Following the completion of the transaction, the chief executive officer directly owned 29,550 shares of the company's stock, valued at $546,675. The trade was a 1,903.39% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 89,555 shares of company stock valued at $1,656,768. Insiders own 1.44% of the company's stock.

Hedge Funds Weigh In On Simmons First National

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC raised its stake in shares of Simmons First National by 159.2% in the 2nd quarter. CWM LLC now owns 11,989 shares of the bank's stock valued at $227,000 after acquiring an additional 7,364 shares during the period. Inspire Investing LLC increased its stake in Simmons First National by 24.9% during the 2nd quarter. Inspire Investing LLC now owns 20,933 shares of the bank's stock worth $397,000 after buying an additional 4,168 shares during the period. KLP Kapitalforvaltning AS increased its stake in Simmons First National by 4.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 27,000 shares of the bank's stock worth $517,000 after buying an additional 1,100 shares during the period. ZWJ Investment Counsel Inc. purchased a new stake in Simmons First National during the 2nd quarter worth approximately $213,000. Finally, 1900 Wealth Management LLC increased its stake in Simmons First National by 1.1% during the 2nd quarter. 1900 Wealth Management LLC now owns 47,560 shares of the bank's stock worth $902,000 after buying an additional 497 shares during the period. 27.58% of the stock is currently owned by institutional investors and hedge funds.

Simmons First National Stock Performance

The firm's 50 day moving average is $19.23 and its two-hundred day moving average is $20.12. The stock has a market capitalization of $2.80 billion, a PE ratio of 15.50 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 0.80.

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

Simmons First National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Friday, June 13th. Simmons First National's dividend payout ratio is currently 66.93%.

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.