Wall Street Zen Upgrades Simmons First National (NASDAQ:SFNC) to Hold

Simmons First National (NASDAQ:SFNC) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other equities analysts also recently commented on the stock. Morgan Stanley started coverage on shares of Simmons First National in a research note on Tuesday, October 28th. They issued a “positive” rating and a $22.00 target price on the stock. Keefe, Bruyette & Woods dropped their price objective on Simmons First National from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Monday, October 20th. Zacks Research downgraded Simmons First National from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. National Bankshares set a $22.00 target price on Simmons First National in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Simmons First National in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Simmons First National currently has an average rating of “Moderate Buy” and an average target price of $22.33.

Simmons First National Price Performance

SFNC opened at $19.30 on Friday. The business has a fifty day moving average of $18.65 and a 200 day moving average of $19.24. The stock has a market cap of $2.79 billion, a P/E ratio of -6.59 and a beta of 0.89. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.20. Simmons First National has a 52-week low of $17.00 and a 52-week high of $23.44.

Simmons First National (NASDAQ:SFNC) last released its earnings results on Thursday, October 16th. The bank reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $232.54 million for the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. As a group, sell-side analysts anticipate that Simmons First National will post 1.66 EPS for the current year.

Insider Transactions at Simmons First National

In other news, EVP David W. Garner purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was acquired at an average cost of $17.66 per share, with a total value of $52,980.00. Following the completion of the transaction, the executive vice president owned 72,345 shares in the company, valued at $1,277,612.70. This represents a 4.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Cosse acquired 8,603 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was purchased at an average cost of $17.44 per share, for a total transaction of $150,036.32. Following the transaction, the director owned 113,652 shares in the company, valued at approximately $1,982,090.88. The trade was a 8.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.44% of the company’s stock.

Hedge Funds Weigh In On Simmons First National

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of Simmons First National by 197.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock worth $32,000 after purchasing an additional 1,104 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Simmons First National by 42.5% in the third quarter. Jones Financial Companies Lllp now owns 2,175 shares of the bank’s stock valued at $43,000 after buying an additional 649 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in Simmons First National by 32.0% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock worth $50,000 after acquiring an additional 644 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Simmons First National by 35.2% during the second quarter. GAMMA Investing LLC now owns 3,426 shares of the bank’s stock worth $65,000 after acquiring an additional 892 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Simmons First National by 68.4% during the third quarter. Covestor Ltd now owns 5,938 shares of the bank’s stock valued at $114,000 after acquiring an additional 2,412 shares in the last quarter. 27.58% of the stock is owned by institutional investors and hedge funds.

Simmons First National Company Profile

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.