Simmons First National (NASDAQ:SFNC) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Simmons First National (NASDAQ:SFNC) issued its quarterly earnings results on Thursday. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03), FiscalAI reports. Simmons First National had a positive return on equity of 8.36% and a negative net margin of 24.64%.The business had revenue of $248.57 million for the quarter, compared to analyst estimates of $250.98 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year.

Simmons First National Trading Down 1.3%

Shares of Simmons First National stock opened at $22.95 on Friday. The stock has a market cap of $3.33 billion, a P/E ratio of -9.07 and a beta of 0.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. Simmons First National has a 12-month low of $17.00 and a 12-month high of $23.91. The business’s 50 day moving average is $21.97 and its 200-day moving average is $20.80.

Simmons First National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors 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 was Monday, June 15th. Simmons First National’s dividend payout ratio is presently -33.59%.

Hedge Funds Weigh In On Simmons First National

A number of hedge funds and other institutional investors have recently bought and sold shares of SFNC. CIBC Bancorp USA Inc. bought a new position in Simmons First National during the third quarter worth about $290,000. Man Group plc bought a new stake in Simmons First National in the 3rd quarter valued at about $293,000. Tower Research Capital LLC TRC boosted its holdings in Simmons First National by 279.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,650 shares of the bank’s stock valued at $297,000 after purchasing an additional 11,522 shares during the period. Quantinno Capital Management LP acquired a new position in shares of Simmons First National during the 2nd quarter worth approximately $274,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Simmons First National by 15.4% during the second quarter. NewEdge Advisors LLC now owns 15,048 shares of the bank’s stock worth $285,000 after purchasing an additional 2,012 shares during the period. Institutional investors own 27.58% of the company’s stock.

Simmons First National News Roundup

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on SFNC shares. Morgan Stanley restated a “positive” rating on shares of Simmons First National in a research report on Monday, June 29th. DA Davidson restated a “neutral” rating and issued a $23.00 price target on shares of Simmons First National in a report on Friday. Raymond James Financial reaffirmed an “outperform” rating and set a $25.00 price target on shares of Simmons First National in a research report on Friday. Zacks Research lowered Simmons First National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Stephens raised their target price on shares of Simmons First National from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

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.