Simmons First National (NASDAQ:SFNC) Sees Large Volume Increase – Here’s Why

Simmons First National Corporation (NASDAQ:SFNC) saw unusually-high trading volume on Friday . 1,281,609 shares traded hands during trading, an increase of 1% from the previous session’s volume of 1,272,030 shares.The stock last traded at $23.2630 and had previously closed at $23.25.

More Simmons First National News

Here are the key news stories impacting Simmons First National this week:

• Positive Sentiment: Adjusted earnings of $0.50 per share and revenue growth of 16.1% year over year indicate the business is still expanding. Simmons First National Corporation Reports Second Quarter Results
• Positive Sentiment: The bank maintained a stable net interest margin and reported improved deposit mix, which supports profitability. Simmons First National Corporation Reports Second Quarter Results
• Neutral Sentiment: DA Davidson reaffirmed its neutral rating and set a $23 price target, only slightly above the recent share price, suggesting limited near-term upside. Benzinga
• Negative Sentiment: The modest earnings and revenue misses versus analyst estimates likely pressured the stock, as investors focused on the quarter coming in below expectations. Simmons First National (SFNC) Lags Q2 Earnings and Revenue Estimates

Analysts Set New Price Targets

Several equities research analysts have commented on the company. National Bank Financial set a $24.00 price objective on Simmons First National in a research report on Monday, June 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $25.00 target price on shares of Simmons First National in a report on Friday. Weiss Ratings upgraded shares of Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Stephens boosted their target price on shares of Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Finally, DA Davidson reissued a “neutral” rating and set a $23.00 price target on shares of Simmons First National in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

Simmons First National Price Performance

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.33 billion, a PE ratio of -9.07 and a beta of 0.90. The stock has a 50-day moving average price of $21.97 and a 200 day moving average price of $20.80.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $248.57 million during the quarter, compared to analyst estimates of $250.98 million. Simmons First National had a negative net margin of 24.64% and a positive return on equity of 8.36%. Simmons First National’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. Equities analysts forecast that Simmons First National Corporation will post 2.08 EPS for the current fiscal year.

Simmons First National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, June 15th. Simmons First National’s dividend payout ratio (DPR) is presently -33.59%.

Institutional Trading of Simmons First National

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in shares of Simmons First National in the third quarter worth approximately $129,282,000. Basswood Capital Management L.L.C. increased its position in shares of Simmons First National by 325.7% during the fourth quarter. Basswood Capital Management L.L.C. now owns 1,143,055 shares of the bank’s stock worth $21,547,000 after purchasing an additional 874,513 shares in the last quarter. Leeward Investments LLC MA acquired a new position in Simmons First National in the 1st quarter valued at $15,744,000. Goldman Sachs Group Inc. lifted its holdings in Simmons First National by 97.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,469,594 shares of the bank’s stock valued at $27,702,000 after purchasing an additional 725,489 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Simmons First National by 58.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,595,939 shares of the bank’s stock valued at $30,083,000 after purchasing an additional 587,082 shares in the last quarter. Hedge funds and other institutional investors own 27.58% of the company’s stock.

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.