Simmons First National (NASDAQ:SFNC) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Simmons First National (NASDAQ:SFNC) from a hold rating to a sell rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “SIMMONS FIRST NATIONAL CORP bank holding company registered under the Bank Holding Act of 1956. Through its subsidiaries, Co. provides a full range of banking and mortgage services to individual and corporate customers. “

Several other analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Simmons First National from a sell rating to a hold rating in a research report on Thursday, September 12th. Sandler O’Neill upgraded shares of Simmons First National from a hold rating to a buy rating and raised their price objective for the company from $26.00 to $30.00 in a research report on Thursday, August 1st. Finally, Stephens set a $30.00 price objective on shares of Simmons First National and gave the company a buy rating in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $28.80.

NASDAQ:SFNC traded up $0.25 during trading hours on Wednesday, hitting $24.14. The stock had a trading volume of 285,032 shares, compared to its average volume of 426,918. The company has a 50 day simple moving average of $24.63 and a two-hundred day simple moving average of $24.41. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Simmons First National has a one year low of $22.08 and a one year high of $29.74. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 10.18 and a beta of 1.09.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.08. Simmons First National had a net margin of 24.55% and a return on equity of 9.90%. The firm had revenue of $189.36 million during the quarter, compared to the consensus estimate of $186.20 million. Equities research analysts anticipate that Simmons First National will post 2.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 16th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, September 13th. Simmons First National’s dividend payout ratio (DPR) is currently 27.00%.

In related news, CEO George Makris, Jr. acquired 10,858 shares of the stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $24.37 per share, for a total transaction of $264,609.46. Following the transaction, the chief executive officer now owns 377,243 shares in the company, valued at approximately $9,193,411.91. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.02% of the company’s stock.

Large investors have recently modified their holdings of the stock. Marshall Wace North America L.P. purchased a new position in Simmons First National in the 1st quarter worth $59,000. Pearl River Capital LLC purchased a new position in Simmons First National in the 2nd quarter worth $59,000. Meridian Management Co. raised its position in Simmons First National by 5.6% in the 2nd quarter. Meridian Management Co. now owns 9,690 shares of the bank’s stock worth $225,000 after purchasing an additional 513 shares during the period. Capital Fund Management S.A. purchased a new position in Simmons First National in the 2nd quarter worth $226,000. Finally, Balyasny Asset Management LLC purchased a new position in Simmons First National in the 2nd quarter worth $267,000. Institutional investors own 20.39% of the company’s stock.

About Simmons First National

Simmons First National Corporation operates as the holding company for Simmons Bank that provides financial products and services to individuals and businesses. It offers checking, savings, and time deposits; loan products, including consumer, real estate, commercial, agricultural, equipment, and SBA lending; personal and corporate trust services; credit cards; investment management products; insurance products; and securities and investment services.

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