Simmons First National (NASDAQ:SFNC) Stock Rating Lowered by Wall Street Zen

Simmons First National (NASDAQ:SFNC) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Several other analysts have also issued reports on SFNC. Zacks Research lowered Simmons First National from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Baird R W upgraded shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Morgan Stanley assumed coverage on Simmons First National in a research note on Tuesday, October 28th. They issued a “positive” rating and a $22.00 target price for the company. Piper Sandler raised Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, National Bankshares set a $22.00 price objective on Simmons First National in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.33.

Simmons First National Price Performance

Simmons First National stock opened at $19.24 on Friday. The business’s 50-day simple moving average is $18.80 and its 200 day simple moving average is $19.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -6.57 and a beta of 0.89. Simmons First National has a 12-month low of $17.00 and a 12-month 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm 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%.Simmons First National’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. As a group, research analysts anticipate that Simmons First National will post 1.66 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SFNC. Exchange Traded Concepts LLC boosted its position in Simmons First National by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 48,572 shares of the bank’s stock valued at $916,000 after acquiring an additional 6,912 shares in the last quarter. SG Americas Securities LLC raised its holdings in Simmons First National by 668.3% in the fourth quarter. SG Americas Securities LLC now owns 114,171 shares of the bank’s stock worth $2,152,000 after purchasing an additional 99,310 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Simmons First National by 24.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,221 shares of the bank’s stock worth $468,000 after buying an additional 4,738 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Simmons First National by 19.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,008,857 shares of the bank’s stock worth $19,340,000 after acquiring an additional 166,211 shares in the last quarter. Finally, Connors Investor Services Inc. lifted its position in Simmons First National by 23.7% during the 3rd quarter. Connors Investor Services Inc. now owns 165,133 shares of the bank’s stock valued at $3,166,000 after acquiring an additional 31,629 shares during the period. Institutional investors 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.