Simmons First National (NASDAQ:SFNC) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Simmons First National (NASDAQ:SFNC) from a sell rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “SIMMONS FIRST NATIONAL CORP bank holding company registered under the Bank Holding Act of 1956. Through its subsidiaries, Co. provides a full range of banking and mortgage services to individual and corporate customers. “

Other equities analysts have also recently issued research reports about the stock. Sandler O’Neill raised shares of Simmons First National from a hold rating to a buy rating and increased their price objective for the stock from $26.00 to $30.00 in a research report on Thursday, August 1st. ValuEngine upgraded shares of Simmons First National from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. BidaskClub upgraded shares of Simmons First National from a sell rating to a hold rating in a report on Thursday, September 12th. Finally, Stephens set a $30.00 target price on shares of Simmons First National and gave the stock a buy rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $28.80.

NASDAQ:SFNC opened at $23.64 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $2.27 billion, a P/E ratio of 9.67 and a beta of 1.09. The company has a 50 day moving average price of $24.49 and a 200 day moving average price of $24.38. Simmons First National has a fifty-two week low of $22.08 and a fifty-two week high of $29.60.

Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.08. The firm had revenue of $189.36 million during the quarter, compared to analysts’ expectations of $186.20 million. Simmons First National had a net margin of 24.55% and a return on equity of 9.90%. Research analysts forecast that Simmons First National will post 2.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.71%. Simmons First National’s dividend payout ratio (DPR) is presently 27.00%.

In other Simmons First National news, CEO George Makris, Jr. bought 10,858 shares of Simmons First National stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $24.37 per share, for a total transaction of $264,609.46. Following the acquisition, the chief executive officer now directly owns 377,243 shares in the company, valued at $9,193,411.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its holdings in shares of Simmons First National by 33.1% in the 1st quarter. First Trust Advisors LP now owns 153,741 shares of the bank’s stock valued at $3,764,000 after purchasing an additional 38,228 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Simmons First National by 2.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 284,237 shares of the bank’s stock valued at $6,958,000 after purchasing an additional 7,123 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Simmons First National in the 1st quarter valued at $746,000. Marshall Wace North America L.P. acquired a new stake in shares of Simmons First National in the 1st quarter valued at $59,000. Finally, Nordea Investment Management AB raised its holdings in shares of Simmons First National by 9.3% in the 1st quarter. Nordea Investment Management AB now owns 175,778 shares of the bank’s stock valued at $4,303,000 after purchasing an additional 14,974 shares in the last quarter. Institutional investors own 20.39% of the company’s stock.

Simmons First National Company Profile

Simmons First National Corporation operates as the holding company for Simmons Bank that provides financial products and services to individuals and businesses. It offers checking, savings, and time deposits; loan products, including consumer, real estate, commercial, agricultural, equipment, and SBA lending; personal and corporate trust services; credit cards; investment management products; insurance products; and securities and investment services.

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