Simmons First National (NASDAQ:SFNC) Sets New 12-Month High - Here's What Happened

Key Points

• Simmons First National shares reached a new 52-week high, trading as high as $23.92 and closing up 1.4% at approximately $23.93.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $24.50; several firms maintain $25 targets.
• The bank’s latest quarterly results fell slightly short of expectations, reporting $0.50 in EPS versus $0.53 forecast, while revenue rose 16.1% year over year. Simmons also pays a quarterly dividend of $0.215, representing a 3.6% annualized yield.

Simmons First National Corporation (NASDAQ:SFNC - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $23.92 and last traded at $23.9260, with a volume of 553049 shares. The stock had previously closed at $23.59.

Wall Street Analyst Weigh In

SFNC has been the topic of several analyst reports. Stephens lifted their target price on Simmons First National from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, April 20th. Raymond James Financial reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Simmons First National in a research note on Friday, July 17th. Morgan Stanley reaffirmed a "positive" rating on shares of Simmons First National in a research report on Monday, June 29th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Simmons First National in a research note on Tuesday, July 21st. Finally, National Bank Financial set a $25.00 target price on shares of Simmons First National in a research note on Monday, July 20th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.50.

Simmons First National Stock Up 1.4%

The firm has a market capitalization of $3.47 billion, a PE ratio of -9.46 and a beta of 0.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.93 and a quick ratio of 0.92. The company has a 50-day moving average price of $22.42 and a 200 day moving average price of $21.10.

Simmons First National (NASDAQ:SFNC - Get Free Report) last released its earnings results on Thursday, July 16th. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03). The company had revenue of $248.57 million during the quarter, compared to analysts' expectations of $250.98 million. Simmons First National had a positive return on equity of 8.32% and a negative net margin of 24.64%.Simmons First National's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $0.44 EPS. Analysts forecast that Simmons First National Corporation will post 2.05 earnings per share for the current year.

Simmons First National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.215 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.86 annualized dividend and a yield of 3.6%. Simmons First National's payout ratio is presently -33.99%.

Institutional Investors Weigh In On Simmons First National

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Simmons First National by 27.2% during the first quarter. Royal Bank of Canada now owns 88,632 shares of the bank's stock valued at $1,820,000 after buying an additional 18,933 shares during the last quarter. AQR Capital Management LLC increased its stake in Simmons First National by 271.3% in the 1st quarter. AQR Capital Management LLC now owns 158,856 shares of the bank's stock worth $3,261,000 after acquiring an additional 116,072 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Simmons First National by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,861 shares of the bank's stock worth $1,516,000 after acquiring an additional 3,221 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Simmons First National by 3,624.6% during the 1st quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank's stock worth $268,000 after acquiring an additional 12,686 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Simmons First National by 1,288.2% during the 1st quarter. Jones Financial Companies Lllp now owns 18,046 shares of the bank's stock worth $411,000 after acquiring an additional 16,746 shares in the last quarter. 27.58% of the stock is owned by institutional investors.

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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