Wall Street Zen Upgrades Simmons First National (NASDAQ:SFNC) to “Hold”

Simmons First National (NASDAQ:SFNC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other equities analysts have also issued research reports about the stock. Morgan Stanley started coverage on shares of Simmons First National in a research report on Tuesday, October 28th. They set a “positive” rating and a $22.00 target price on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Simmons First National from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Monday, October 20th. Piper Sandler raised shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Zacks Research downgraded Simmons First National from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Simmons First National in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Simmons First National has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Simmons First National Price Performance

NASDAQ SFNC opened at $19.30 on Friday. The stock has a 50-day simple moving average of $18.65 and a 200 day simple moving average of $19.25. Simmons First National has a twelve month low of $17.00 and a twelve month high of $23.44. The stock has a market capitalization of $2.79 billion, a PE ratio of -6.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.88 and a current ratio of 0.88.

Simmons First National (NASDAQ:SFNC) last released its earnings results on Thursday, October 16th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Simmons First National had a negative net margin of 29.70% and a positive return on equity of 5.84%. The business had revenue of $232.54 million during the quarter, compared to analyst estimates of $103.26 million. During the same period last year, the business earned $0.37 EPS. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Research analysts anticipate that Simmons First National will post 1.66 EPS for the current year.

Insider Buying and Selling

In related news, EVP David W. Garner acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The shares were bought at an average cost of $17.66 per share, with a total value of $52,980.00. Following the completion of the acquisition, the executive vice president owned 72,345 shares of the company’s stock, valued at $1,277,612.70. This trade represents a 4.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven A. Cosse bought 8,603 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was bought at an average cost of $17.44 per share, with a total value of $150,036.32. Following the completion of the acquisition, the director owned 113,652 shares in the company, valued at $1,982,090.88. This represents a 8.19% increase in their position. The SEC filing for this purchase provides additional information. 1.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Simmons First National

Several institutional investors and hedge funds have recently made changes to their positions in SFNC. Wellington Management Group LLP acquired a new stake in shares of Simmons First National during the 3rd quarter worth about $129,282,000. Vanguard Group Inc. grew its stake in Simmons First National by 12.0% during the third quarter. Vanguard Group Inc. now owns 16,419,609 shares of the bank’s stock worth $314,764,000 after buying an additional 1,763,161 shares during the last quarter. Azora Capital LP acquired a new stake in shares of Simmons First National during the third quarter worth approximately $13,177,000. Mendon Capital Advisors Corp bought a new position in shares of Simmons First National in the third quarter valued at approximately $7,794,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Simmons First National in the 3rd quarter worth approximately $6,372,000. Institutional investors and hedge funds 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.