Simmons First National (NASDAQ:SFNC) Shares Gap Down - Should You Sell?

Simmons First National Corporation (NASDAQ:SFNC - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $20.08, but opened at $19.49. Simmons First National shares last traded at $19.74, with a volume of 3,238,748 shares traded.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SFNC. DA Davidson raised their target price on shares of Simmons First National from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wall Street Zen upgraded Simmons First National from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Stephens lowered their target price on Simmons First National from $27.00 to $25.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods lifted their price target on Simmons First National from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Monday. Finally, Piper Sandler upgraded Simmons First National from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $20.00 to $21.00 in a research report on Monday, April 21st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.75.

Simmons First National Price Performance

The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 15.50 and a beta of 0.92. The company has a fifty day simple moving average of $19.24 and a 200 day simple moving average of $20.15. 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 earnings results on Thursday, July 17th. The bank reported $0.44 earnings per share for the quarter, topping 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 business had revenue of $214.18 million during the quarter, compared to the consensus estimate of $217.21 million. During the same quarter last year, the firm earned $0.33 earnings per share. Simmons First National's quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts forecast that Simmons First National Corporation will post 1.66 EPS for the current fiscal year.

Simmons First National Announces Dividend

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

Insider Activity at Simmons First National

In related news, Director Marty Casteel purchased 5,400 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was acquired at an average price of $18.50 per share, for a total transaction of $99,900.00. Following the purchase, the director owned 213,901 shares of the company's stock, valued at approximately $3,957,168.50. This trade represents a 2.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Cosse acquired 13,500 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were purchased at an average cost of $18.50 per share, for a total transaction 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. The trade was a 14.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 89,555 shares of company stock valued at $1,656,768 over the last three months. 1.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Simmons First National

Large investors have recently modified their holdings of the stock. 1900 Wealth Management LLC grew its position in shares of Simmons First National by 1.1% in the second quarter. 1900 Wealth Management LLC now owns 47,560 shares of the bank's stock valued at $902,000 after purchasing an additional 497 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Simmons First National by 0.7% in the 4th quarter. Cresset Asset Management LLC now owns 76,711 shares of the bank's stock worth $1,718,000 after purchasing an additional 546 shares during the period. Mustard Seed Financial LLC boosted its stake in Simmons First National by 1.9% in the 1st quarter. Mustard Seed Financial LLC now owns 34,402 shares of the bank's stock worth $706,000 after purchasing an additional 656 shares during the period. HighTower Advisors LLC grew its holdings in 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 in the last quarter. Finally, Cerity Partners LLC increased its position in shares of Simmons First National by 5.5% during the first quarter. Cerity Partners LLC now owns 16,058 shares of the bank's stock valued at $330,000 after buying an additional 836 shares during the period. Hedge funds and other institutional investors own 27.58% of the company's stock.

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.