Simmons First National (NASDAQ:SFNC) Downgraded to Hold at Zacks Investment Research

Simmons First National (NASDAQ:SFNCGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

Separately, StockNews.com initiated coverage on Simmons First National in a report on Thursday, March 31st. They set a “hold” rating on the stock.

SFNC stock traded up $0.21 during midday trading on Wednesday, hitting $24.61. 4,567 shares of the company’s stock were exchanged, compared to its average volume of 1,281,252. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.58. Simmons First National has a 12-month low of $22.89 and a 12-month high of $32.76. The business has a 50 day moving average of $26.59. The firm has a market capitalization of $2.77 billion, a PE ratio of 10.16 and a beta of 0.79.

Simmons First National (NASDAQ:SFNCGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. Simmons First National had a return on equity of 9.17% and a net margin of 31.68%. The company had revenue of $207.74 million for the quarter, compared to the consensus estimate of $202.14 million. During the same period in the previous year, the business earned $0.59 EPS. Simmons First National’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that Simmons First National will post 2.24 earnings per share for the current fiscal year.

In other news, COO Robert A. Fehlman purchased 5,000 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was acquired at an average cost of $24.00 per share, for a total transaction of $120,000.00. Following the acquisition, the chief operating officer now owns 125,797 shares of the company’s stock, valued at $3,019,128. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in SFNC. William Blair Investment Management LLC boosted its position in Simmons First National by 47,122.2% during the 3rd quarter. William Blair Investment Management LLC now owns 1,478,055 shares of the bank’s stock valued at $43,691,000 after purchasing an additional 1,474,925 shares during the period. Norges Bank acquired a new position in Simmons First National during the 4th quarter valued at approximately $32,303,000. JPMorgan Chase & Co. boosted its position in Simmons First National by 119.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,969,799 shares of the bank’s stock valued at $58,266,000 after purchasing an additional 1,073,187 shares during the period. BlackRock Inc. boosted its position in Simmons First National by 6.5% during the 4th quarter. BlackRock Inc. now owns 16,955,007 shares of the bank’s stock valued at $501,530,000 after purchasing an additional 1,036,018 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in Simmons First National by 27.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,830,239 shares of the bank’s stock valued at $83,719,000 after purchasing an additional 615,775 shares during the period. Institutional investors and hedge funds own 46.84% of the company’s stock.

Simmons First National Company Profile (Get Rating)

Simmons First National Corporation operates as the holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses. It offers checking, savings, and time deposits; consumer, real estate, and commercial loans; agricultural finance, equipment, and small business administration lending; trust and fiduciary services; credit cards; investment management products; insurance products; and securities and investment services.

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