Simmons First National (NASDAQ:SFNC) Trading 7.1% Higher After Strong Earnings

Simmons First National Corporation (NASDAQ:SFNC)’s share price was up 7.1% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $20.83 and last traded at $20.6440. Approximately 876,136 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 988,477 shares. The stock had previously closed at $19.28.

The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. Simmons First National had a positive return on equity of 5.84% and a negative net margin of 29.70%.The business had revenue of $197.30 million for the quarter, compared to analyst estimates of $238.68 million. During the same period in the prior year, the company earned $0.39 EPS. Simmons First National’s revenue for the quarter was up 19.4% on a year-over-year basis.

Simmons First National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, December 15th. Simmons First National’s dividend payout ratio (DPR) is presently -29.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SFNC shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Simmons First National in a research note on Monday, December 29th. National Bankshares set a $22.00 price target on Simmons First National in a report on Tuesday, October 28th. Baird R W raised Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Piper Sandler upgraded shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, Zacks Research downgraded Simmons First National from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Simmons First National currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Transactions at Simmons First National

In other Simmons First National news, Director Steven A. Cosse purchased 8,603 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average price of $17.44 per share, with a total value of $150,036.32. Following the completion of the purchase, the director directly owned 113,652 shares of the company’s stock, valued at $1,982,090.88. The trade was a 8.19% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Simmons First National

A number of hedge funds have recently modified their holdings of SFNC. EverSource Wealth Advisors LLC boosted its holdings in Simmons First National by 197.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,104 shares during the period. Jones Financial Companies Lllp increased its position in shares of 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 acquiring an additional 649 shares during the period. Osaic Holdings Inc. lifted 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 acquiring an additional 644 shares during the period. GAMMA Investing LLC lifted its holdings in Simmons First National by 35.2% in the second quarter. GAMMA Investing LLC now owns 3,426 shares of the bank’s stock valued at $65,000 after acquiring an additional 892 shares during the period. Finally, Covestor Ltd raised its holdings in Simmons First National by 68.4% in the 3rd quarter. Covestor Ltd now owns 5,938 shares of the bank’s stock worth $114,000 after purchasing an additional 2,412 shares during the period. Institutional investors own 27.58% of the company’s stock.

Simmons First National Trading Up 7.1%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -7.04 and a beta of 0.89. The company has a 50 day moving average price of $18.85 and a two-hundred day moving average price of $19.22.

About Simmons First National

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.