Simmons First National (SFNC) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Simmons First National (NASDAQ:SFNC) from a buy rating to a hold rating in a report issued on Wednesday morning.
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 report on Saturday, February 10th. Sandler O’Neill raised shares of Simmons First National from a hold rating to a buy rating and set a $34.00 target price on the stock in a report on Wednesday, January 24th. Finally, Piper Jaffray Companies set a $30.00 target price on shares of Simmons First National and gave the company a hold rating in a report on Thursday, November 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $31.90.
Simmons First National (NASDAQ:SFNC) last issued its earnings results on Monday, January 22nd. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The company had revenue of $163.55 million for the quarter, compared to analysts’ expectations of $155.80 million. Simmons First National had a net margin of 17.41% and a return on equity of 8.28%. analysts predict that Simmons First National will post 2.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.07%. Simmons First National’s dividend payout ratio (DPR) is currently 36.50%.
In related news, CEO George Makris, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were acquired at an average price of $58.10 per share, for a total transaction of $145,250.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vernon Wilson Jr. Bryant sold 22,888 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $54.87, for a total transaction 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. In the last quarter, insiders sold 402,888 shares of company stock worth $23,019,365. 4.63% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Simmons First National during the 4th quarter worth approximately $107,000. Victory Capital Management Inc. grew its position in shares of Simmons First National by 28.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,094 shares of the bank’s stock worth $237,000 after purchasing an additional 912 shares in the last quarter. Ifrah Financial Services Inc. acquired a new position in shares of Simmons First National during the 3rd quarter worth approximately $246,000. CIBC Asset Management Inc acquired a new position in shares of Simmons First National during the 4th quarter worth approximately $268,000. Finally, SG Americas Securities LLC acquired a new position in shares of Simmons First National during the 3rd quarter worth approximately $278,000. Institutional investors and hedge funds own 51.33% of the company’s stock.
Simmons First National Company Profile
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.
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