Simmons First National (NASDAQ:SFNC) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Simmons First National (NASDAQ:SFNC) issued its earnings results on Thursday. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03), FiscalAI reports. The business had revenue of $248.57 million during the quarter, compared to analysts’ expectations of $250.98 million. Simmons First National had a positive return on equity of 7.81% and a negative net margin of 25.44%.Simmons First National’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS.

Simmons First National Trading Up 0.1%

Simmons First National stock opened at $23.25 on Friday. The company’s fifty day simple moving average is $21.94 and its 200-day simple moving average is $20.78. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. Simmons First National has a 12 month low of $17.00 and a 12 month high of $23.91. The stock has a market cap of $3.37 billion, a P/E ratio of -9.08 and a beta of 0.90.

Simmons First National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a dividend of $0.215 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.7%. Simmons First National’s dividend payout ratio (DPR) is -33.59%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SFNC. National Bank Financial set a $24.00 price objective on Simmons First National in a research report on Monday, June 29th. Weiss Ratings upgraded shares of Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Stephens raised their price target on shares of Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Morgan Stanley restated a “positive” rating on shares of Simmons First National in a report on Monday, June 29th. Finally, DA Davidson reiterated a “neutral” rating and set a $21.00 target price on shares of Simmons First National in a research note on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Institutional Trading of Simmons First National

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Simmons First National by 27.2% in the 1st quarter. Royal Bank of Canada now owns 88,632 shares of the bank’s stock valued at $1,820,000 after purchasing an additional 18,933 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Simmons First National by 271.3% in the first quarter. AQR Capital Management LLC now owns 158,856 shares of the bank’s stock valued at $3,261,000 after purchasing an additional 116,072 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Simmons First National by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,861 shares of the bank’s stock worth $1,516,000 after buying an additional 3,221 shares during the period. NewEdge Advisors LLC boosted its position in shares of Simmons First National by 3,624.6% during the first quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank’s stock worth $268,000 after buying an additional 12,686 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in shares of Simmons First National by 1,288.2% during the first quarter. Jones Financial Companies Lllp now owns 18,046 shares of the bank’s stock worth $411,000 after buying an additional 16,746 shares in the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

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.