Simmons First National (NASDAQ:SFNC) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Simmons First National (NASDAQ:SFNC) from a hold rating to a sell rating in a research report released on Sunday morning.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley began coverage on Simmons First National in a research report on Tuesday, October 28th. They set a “positive” rating and a $22.00 price target for the company. Zacks Research downgraded shares of Simmons First National from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Keefe, Bruyette & Woods cut their price target on shares of Simmons First National from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Monday, October 20th. National Bankshares set a $22.00 price objective on shares of Simmons First National in a research note on Tuesday, October 28th. Finally, Piper Sandler raised shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Simmons First National Trading Up 0.2%

NASDAQ:SFNC opened at $19.28 on Friday. The company has a market capitalization of $2.79 billion, a PE ratio of -6.58 and a beta of 0.89. Simmons First National has a 52-week low of $17.00 and a 52-week high of $23.44. The stock’s 50 day moving average price is $18.85 and its 200 day moving average price is $19.22. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.20.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings data on Tuesday, January 20th. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. The firm had revenue of $197.30 million for the quarter, compared to the consensus estimate of $238.68 million. Simmons First National had a negative net margin of 29.70% and a positive return on equity of 5.84%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. On average, research analysts anticipate that Simmons First National will post 1.66 EPS for the current year.

Simmons First National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, December 15th. Simmons First National’s payout ratio is currently -29.01%.

Insiders Place Their Bets

In related news, Director Steven A. Cosse acquired 8,603 shares of Simmons First National stock in a transaction dated Thursday, October 30th. The stock was acquired at an average cost of $17.44 per share, with a total value of $150,036.32. Following the purchase, the director directly owned 113,652 shares in the company, valued at $1,982,090.88. The trade was a 8.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.91% of the company’s stock.

Hedge Funds Weigh In On Simmons First National

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 1900 Wealth Management LLC boosted 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 acquiring an additional 497 shares during the period. Osaic Holdings Inc. raised its stake in Simmons First National by 32.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock valued at $50,000 after purchasing an additional 644 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Simmons First National by 42.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,175 shares of the bank’s stock valued at $43,000 after purchasing an additional 649 shares during the period. California State Teachers Retirement System boosted its holdings in Simmons First National by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 115,982 shares of the bank’s stock valued at $2,199,000 after purchasing an additional 787 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Simmons First National by 24.3% during the 3rd quarter. GAMMA Investing LLC now owns 4,260 shares of the bank’s stock worth $82,000 after purchasing an additional 834 shares during the period. Institutional investors own 27.58% of the company’s stock.

Simmons First National Company Profile

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.