Simmons First National (NASDAQ:SFNC) Shares Gap Down on Disappointing Earnings

Simmons First National Co. (NASDAQ:SFNC) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $18.11, but opened at $17.26. Simmons First National shares last traded at $17.31, with a volume of 117,222 shares trading hands.

The bank reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). The company had revenue of $209.58 million for the quarter, compared to analyst estimates of $209.00 million. Simmons First National had a return on equity of 5.10% and a net margin of 10.46%. During the same period in the prior year, the company earned $0.32 EPS.

Simmons First National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.2125 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.89%. This is a boost from Simmons First National’s previous quarterly dividend of $0.21. Simmons First National’s dividend payout ratio (DPR) is presently 70.25%.

Wall Street Analysts Forecast Growth

Separately, Stephens reduced their price objective on shares of Simmons First National from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd.

Hedge Funds Weigh In On Simmons First National

A number of institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp acquired a new position in Simmons First National during the fourth quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Simmons First National during the 4th quarter worth approximately $36,000. Quarry LP bought a new position in Simmons First National in the 4th quarter valued at approximately $47,000. Smartleaf Asset Management LLC boosted its position in Simmons First National by 168.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,144 shares of the bank’s stock valued at $48,000 after buying an additional 1,345 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of Simmons First National by 813.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,911 shares of the bank’s stock worth $87,000 after buying an additional 3,483 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

Simmons First National Stock Down 4.0 %

The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 14.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s fifty day moving average price is $20.39 and its 200-day moving average price is $22.16.

Simmons First National Company Profile

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. The company 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; treasury management; insurance products; and securities and investment services.