Simmons First National (NASDAQ:SFNC) Price Target Cut to $21.00 by Analysts at Keefe, Bruyette & Woods

Simmons First National (NASDAQ:SFNC) had its price objective trimmed by Keefe, Bruyette & Woods from $22.00 to $21.00 in a report published on Monday morning,Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

A number of other research firms have also recently weighed in on SFNC. Weiss Ratings restated a “hold (c)” rating on shares of Simmons First National in a report on Wednesday, October 8th. Zacks Research cut Simmons First National from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. DA Davidson increased their target price on Simmons First National from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Simmons First National from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.50.

Simmons First National Stock Performance

SFNC opened at $18.12 on Monday. The stock has a market cap of $2.62 billion, a P/E ratio of -6.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $19.88 and its 200 day simple moving average is $19.34. Simmons First National has a 1-year low of $17.20 and a 1-year high of $25.95.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings results on Thursday, October 16th. The bank reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $232.54 million during the quarter, compared to analyst estimates of $103.26 million. Simmons First National had a positive return on equity of 5.84% and a negative net margin of 29.70%.The business’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. As a group, equities analysts anticipate that Simmons First National will post 1.66 EPS for the current fiscal year.

Simmons First National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued a dividend of $0.2125 per share. The ex-dividend date was Monday, September 15th. This represents a $0.85 annualized dividend and a dividend yield of 4.7%. Simmons First National’s dividend payout ratio (DPR) is -29.01%.

Insider Buying and Selling at Simmons First National

In other Simmons First National news, CFO Charles Daniel Hobbs acquired 5,400 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average price of $18.50 per share, for a total transaction of $99,900.00. Following the completion of the acquisition, the chief financial officer directly owned 10,213 shares of the company’s stock, valued at $188,940.50. This trade represents a 112.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Russell William Teubner acquired 9,200 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $18.62 per share, for a total transaction of $171,304.00. Following the acquisition, the director directly owned 53,220 shares of the company’s stock, valued at approximately $990,956.40. The trade was a 20.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 100,755 shares of company stock valued at $1,865,332. 1.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Simmons First National

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in shares of Simmons First National by 2.7% during the first quarter. Principal Financial Group Inc. now owns 691,328 shares of the bank’s stock worth $14,193,000 after purchasing an additional 17,888 shares during the last quarter. KBC Group NV boosted its holdings in Simmons First National by 18.7% in the first quarter. KBC Group NV now owns 7,231 shares of the bank’s stock valued at $148,000 after acquiring an additional 1,140 shares during the last quarter. Magnetar Financial LLC acquired a new position in Simmons First National in the first quarter valued at $318,000. Ieq Capital LLC boosted its holdings in Simmons First National by 156.9% in the first quarter. Ieq Capital LLC now owns 42,193 shares of the bank’s stock valued at $866,000 after acquiring an additional 25,771 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Simmons First National by 7.6% in the second quarter. State of Alaska Department of Revenue now owns 74,955 shares of the bank’s stock valued at $1,420,000 after acquiring an additional 5,298 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

About Simmons First National

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.