Simmons First National (NASDAQ:SFNC) Shares Gap Down After Earnings Miss

Simmons First National Co. (NASDAQ:SFNC - Get Free Report)'s stock price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $18.11, but opened at $17.26. Simmons First National shares last traded at $17.31, with a volume of 117,222 shares traded.

The bank reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.10). The business had revenue of $209.58 million during the quarter, compared to analyst estimates of $209.00 million. Simmons First National had a net margin of 10.46% and a return on equity of 5.10%. During the same period in the previous year, the company posted $0.32 earnings per share.

Simmons First National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.2125 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.85 annualized dividend and a dividend yield of 4.78%. This is a boost from Simmons First National's previous quarterly dividend of $0.21. Simmons First National's dividend payout ratio is currently 73.28%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SFNC. Stephens decreased their price target on Simmons First National from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday. Piper Sandler raised shares of Simmons First National from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $20.00 to $21.00 in a research note on Monday. Finally, Keefe, Bruyette & Woods decreased their target price on Simmons First National from $23.00 to $21.00 and set a "market perform" rating for the company in a research report on Monday.

Institutional Investors Weigh In On Simmons First National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cresset Asset Management LLC raised its holdings in shares of Simmons First National by 0.7% during the fourth quarter. Cresset Asset Management LLC now owns 76,711 shares of the bank's stock worth $1,718,000 after acquiring an additional 546 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Simmons First National by 6.3% during the 4th quarter. CIBC Asset Management Inc now owns 12,581 shares of the bank's stock worth $279,000 after purchasing an additional 751 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Simmons First National by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 19,600 shares of the bank's stock valued at $435,000 after buying an additional 812 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Simmons First National by 4.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 27,396 shares of the bank's stock worth $613,000 after buying an additional 1,049 shares during the last quarter. Finally, Sowell Financial Services LLC raised its position in Simmons First National by 7.7% during the first quarter. Sowell Financial Services LLC now owns 14,738 shares of the bank's stock valued at $303,000 after acquiring an additional 1,056 shares in the last quarter. Hedge funds and other institutional investors own 27.58% of the company's stock.

Simmons First National Price Performance

The company has a market capitalization of $2.24 billion, a P/E ratio of 14.69 and a beta of 0.82. The company's 50-day simple moving average is $20.18 and its 200 day simple moving average is $22.12. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.32.

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.