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

Shares of Simmons First National Corporation (NASDAQ:SFNC) saw an uptick in trading volume on Wednesday . 1,123,580 shares were traded during trading, a decline of 6% from the previous session’s volume of 1,200,044 shares.The stock last traded at $22.0050 and had previously closed at $21.71.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SFNC. Zacks Research cut shares of Simmons First National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. DA Davidson restated a “neutral” rating and set a $21.00 target price on shares of Simmons First National in a research report on Friday, April 17th. Morgan Stanley decreased their target price on Simmons First National from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Stephens lifted their target price on Simmons First National from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Finally, Weiss Ratings raised Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Simmons First National Trading Up 1.2%

The firm’s 50 day simple moving average is $20.92 and its two-hundred day simple moving average is $20.10. The stock has a market capitalization of $3.19 billion, a P/E ratio of -8.60 and a beta of 0.91. 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 (NASDAQ:SFNC) last released its quarterly earnings data on Thursday, April 16th. The bank reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Simmons First National had a negative net margin of 25.44% and a positive return on equity of 7.81%. The company had revenue of $241.37 million for the quarter, compared to analysts’ expectations of $243.02 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue was up 15.2% on a year-over-year basis. As a group, analysts forecast that Simmons First National Corporation will post 2.08 earnings per share for the current fiscal year.

Simmons First National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 15th. Simmons First National’s dividend payout ratio (DPR) is -33.59%.

Simmons First National announced that its board has approved a stock buyback plan on Tuesday, February 17th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the bank to buy up to 5.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Simmons First National

A number of large investors have recently modified their holdings of SFNC. Bessemer Group Inc. increased its stake in Simmons First National by 156.0% during the 1st quarter. Bessemer Group Inc. now owns 1,518 shares of the bank’s stock valued at $29,000 after purchasing an additional 925 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Simmons First National by 197.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock worth $32,000 after acquiring an additional 1,104 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Simmons First National by 35.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank’s stock worth $36,000 after acquiring an additional 495 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Simmons First National by 42.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,175 shares of the bank’s stock valued at $43,000 after acquiring an additional 649 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in Simmons First National by 32.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock valued at $50,000 after acquiring an additional 644 shares in the last quarter. 27.58% of the stock is currently owned by institutional investors.

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.