Simmons First National (SFNC) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Simmons First National (NASDAQ:SFNC) from a hold rating to a buy rating in a report issued on Saturday. Zacks Investment Research currently has $66.00 target price on the bank’s stock.
According to Zacks, “SIMMONS FIRST NATIONAL CORP bank holding company registered under the Bank Holding Act of 1956. Through its subsidiaries, Co. provides a full range of banking and mortgage services to individual and corporate customers. “
A number of other equities research analysts have also recently issued reports on SFNC. BidaskClub raised shares of Simmons First National from a sell rating to a hold rating in a research note on Thursday, January 11th. Sandler O’Neill set a $63.00 price target on shares of Simmons First National and gave the company a hold rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies restated a neutral rating and issued a $60.00 price objective on shares of Simmons First National in a report on Thursday, October 5th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $62.80.
Simmons First National (NASDAQ:SFNC) last released its quarterly earnings results on Sunday, October 22nd. The bank reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). Simmons First National had a net margin of 21.58% and a return on equity of 8.79%. equities analysts expect that Simmons First National will post 3.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. Simmons First National’s payout ratio is currently 31.65%.
In other Simmons First National news, Director Russell William Teubner sold 4,334 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $55.69, for a total value of $241,360.46. Following the transaction, the director now owns 705 shares in the company, valued at approximately $39,261.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vernon Wilson Jr. Bryant sold 22,888 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $54.87, for a total value of $1,255,864.56. Following the completion of the transaction, the insider now owns 211,353 shares in the company, valued at approximately $11,596,939.11. The disclosure for this sale can be found here. Insiders sold a total of 349,122 shares of company stock worth $19,827,028 in the last 90 days. 4.63% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Simmons First National during the 4th quarter worth $107,000. Riverhead Capital Management LLC raised its holdings in shares of Simmons First National by 63.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the bank’s stock worth $113,000 after acquiring an additional 831 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Simmons First National by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,182 shares of the bank’s stock worth $168,000 after acquiring an additional 476 shares during the period. Amalgamated Bank raised its holdings in shares of Simmons First National by 3.8% during the 2nd quarter. Amalgamated Bank now owns 4,122 shares of the bank’s stock worth $218,000 after acquiring an additional 151 shares during the period. Finally, Ifrah Financial Services Inc. purchased a new position in shares of Simmons First National during the 3rd quarter worth $246,000. Institutional investors and hedge funds own 51.33% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.thecerbatgem.com/2018/01/16/simmons-first-national-sfnc-stock-rating-upgraded-by-zacks-investment-research.html.
About Simmons First National
Simmons First National Corporation is a financial holding company. The Company, through its subsidiary bank, Simmons Bank, provides financial services to individuals and businesses throughout the market areas they serve. As of December 31, 2016, Simmons Bank conducted banking operations through 150 financial centers located in communities throughout Arkansas, Kansas, Missouri, Tennessee, Colorado, Oklahoma and Texas.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Simmons First National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simmons First National and related companies with MarketBeat.com's FREE daily email newsletter.