Simmons First National (NASDAQ:SFNC) Sets New 12-Month High Following Earnings Beat

Simmons First National Co. (NASDAQ:SFNC) reached a new 52-week high during trading on Monday following a better than expected earnings announcement. The stock traded as high as $23.74 and last traded at $23.35, with a volume of 48822 shares. The stock had previously closed at $23.28.

The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. Simmons First National had a return on equity of 5.33% and a net margin of 10.49%. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $204.91 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The business’s revenue was up 3.6% on a year-over-year basis.

Simmons First National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Friday, September 13th. Simmons First National’s dividend payout ratio is currently 63.16%.

Wall Street Analyst Weigh In

SFNC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on Simmons First National from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Piper Sandler boosted their target price on Simmons First National from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. StockNews.com downgraded Simmons First National from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Finally, Stephens upgraded shares of Simmons First National from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $27.00 to $28.00 in a report on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.00.

Insider Buying and Selling

In other Simmons First National news, CAO David W. Garner sold 3,600 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $21.21, for a total transaction of $76,356.00. Following the completion of the transaction, the chief accounting officer now owns 64,966 shares of the company’s stock, valued at approximately $1,377,928.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Simmons First National news, CEO Robert A. Fehlman sold 8,680 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $21.93, for a total value of $190,352.40. Following the sale, the chief executive officer now owns 156,357 shares in the company, valued at approximately $3,428,909.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO David W. Garner sold 3,600 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $21.21, for a total value of $76,356.00. Following the transaction, the chief accounting officer now owns 64,966 shares of the company’s stock, valued at $1,377,928.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,700 shares of company stock worth $728,952 in the last ninety days. 1.91% of the stock is owned by insiders.

Institutional Trading of Simmons First National

Several institutional investors have recently added to or reduced their stakes in SFNC. Versant Capital Management Inc boosted its holdings in shares of Simmons First National by 161.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,843 shares of the bank’s stock worth $32,000 after buying an additional 1,137 shares in the last quarter. Farmers & Merchants Investments Inc. raised its holdings in shares of Simmons First National by 2,045.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,888 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,800 shares during the period. Profund Advisors LLC bought a new position in shares of Simmons First National during the 2nd quarter worth about $183,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Simmons First National in the 1st quarter valued at about $227,000. Finally, Algert Global LLC bought a new stake in Simmons First National in the 2nd quarter valued at about $222,000. 27.58% of the stock is currently owned by institutional investors.

Simmons First National Stock Performance

The business has a 50 day moving average of $21.15 and a two-hundred day moving average of $19.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.50 and a beta of 0.87.

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.