Simmons First National (NASDAQ:SFNC) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Simmons First National shares rose above their 200-day moving average, with the stock trading as high as $21.79 before last changing hands at $21.36.
• Analyst sentiment is mixed but leans positive: the stock has a Moderate Buy consensus rating and an average price target of $22.00, though several firms recently cut targets or downgraded the stock.
• The bank posted Q1 EPS of $0.47, matching expectations, while revenue increased 15.2% year over year; the board also authorized a $175 million share repurchase program.

Shares of Simmons First National Corporation (NASDAQ:SFNC - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.53 and traded as high as $21.79. Simmons First National shares last traded at $21.36, with a volume of 876,159 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley decreased their price objective on Simmons First National from $23.00 to $21.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. Zacks Research lowered Simmons First National from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Raymond James Financial upgraded Simmons First National from a "market perform" rating to an "outperform" rating and set a $23.00 price objective on the stock in a report on Thursday, January 22nd. Wall Street Zen raised Simmons First National from a "sell" rating to a "hold" rating in a research note on Monday, January 26th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $21.00 target price on shares of Simmons First National in a research note on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Simmons First National has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Simmons First National Stock Down 1.1%

The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of -8.34 and a beta of 0.92. The business has a 50 day simple moving average of $20.11 and a 200-day simple moving average of $19.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90.

Simmons First National (NASDAQ:SFNC - Get Free Report) last issued its earnings results on Thursday, April 16th. The bank reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. Simmons First National had a positive return on equity of 7.81% and a negative net margin of 25.44%.The business had revenue of $241.37 million during the quarter, compared to the consensus estimate of $243.02 million. During the same period last year, the company earned $0.26 EPS. The company's revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities analysts expect that Simmons First National Corporation will post 2.08 EPS for the current year.

Simmons First National declared that its board has authorized a share repurchase program on Tuesday, February 17th that allows the company to buyback $175.00 million in shares. This buyback authorization allows the bank to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Simmons First National

A number of hedge funds have recently modified their holdings of SFNC. Wellington Management Group LLP purchased a new position in shares of Simmons First National during the 3rd quarter worth $129,282,000. Vanguard Group Inc. grew its holdings in shares of Simmons First National by 12.0% during the 3rd quarter. Vanguard Group Inc. now owns 16,419,609 shares of the bank's stock worth $314,764,000 after purchasing an additional 1,763,161 shares during the period. Basswood Capital Management L.L.C. grew its holdings in shares of Simmons First National by 325.7% during the 4th quarter. Basswood Capital Management L.L.C. now owns 1,143,055 shares of the bank's stock worth $21,547,000 after purchasing an additional 874,513 shares during the period. Leeward Investments LLC MA purchased a new position in shares of Simmons First National during the 1st quarter worth $15,744,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Simmons First National by 97.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,469,594 shares of the bank's stock worth $27,702,000 after purchasing an additional 725,489 shares during the period. 27.58% of the stock is currently owned by hedge funds and other institutional investors.

About Simmons First National

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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