Simmons First National (NASDAQ:SFNC) Stock Rating Lowered by Zacks Research

Simmons First National (NASDAQ:SFNC) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also commented on SFNC. National Bank Financial set a $21.00 target price on Simmons First National in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Simmons First National from a “sell” rating to a “hold” rating in a research note on Monday, January 26th. Raymond James Financial upgraded shares of Simmons First National from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research note on Thursday, January 22nd. DA Davidson raised their target price on shares of Simmons First National from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Finally, Morgan Stanley upped their price target on shares of Simmons First National from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Simmons First National has an average rating of “Moderate Buy” and a consensus price target of $22.43.

Simmons First National Price Performance

Shares of SFNC opened at $18.96 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.88. The company’s fifty day moving average price is $20.20 and its 200-day moving average price is $19.32. Simmons First National has a 1-year low of $17.00 and a 1-year high of $22.17. The firm has a market capitalization of $2.75 billion, a PE ratio of -6.84 and a beta of 0.91.

Simmons First National (NASDAQ:SFNC) last issued its earnings results on Tuesday, January 20th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The company had revenue of $249.00 million during the quarter, compared to analyst estimates of $238.68 million. Simmons First National had a positive return on equity of 6.73% and a negative net margin of 27.83%.The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. On average, equities research analysts predict that Simmons First National will post 1.66 EPS for the current year.

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 outstanding shares. This buyback authorization permits the bank to buy up to 5.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Simmons First National

Institutional investors have recently modified their holdings of the business. Thrivent Financial for Lutherans lifted its position in shares of Simmons First National by 52.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 146,633 shares of the bank’s stock valued at $2,811,000 after buying an additional 50,145 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in Simmons First National in the 3rd quarter worth $1,810,000. Elo Mutual Pension Insurance Co acquired a new position in Simmons First National during the second quarter worth $861,000. Y Intercept Hong Kong Ltd raised its position in Simmons First National by 396.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 164,577 shares of the bank’s stock worth $3,155,000 after acquiring an additional 131,431 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in Simmons First National by 705.8% during the second quarter. Squarepoint Ops LLC now owns 122,145 shares of the bank’s stock valued at $2,316,000 after purchasing an additional 106,986 shares in the last quarter. 27.58% of the stock is currently owned by institutional investors and hedge funds.

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.