Simmons First National (SFNC) Downgraded to “Sell” at BidaskClub

BidaskClub downgraded shares of Simmons First National (NASDAQ:SFNC) from a hold rating to a sell rating in a research report released on Friday.

Several other brokerages have also weighed in on SFNC. Piper Jaffray Companies set a $60.00 price objective on shares of Simmons First National and gave the company a hold rating in a report on Thursday, November 16th. Zacks Investment Research lowered shares of Simmons First National from a buy rating to a hold rating in a report on Saturday, September 30th. Finally, Sandler O’Neill reiterated a hold rating and issued a $62.00 target price on shares of Simmons First National in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Simmons First National presently has an average rating of Hold and an average price target of $62.80.

Shares of Simmons First National (SFNC) traded up $0.90 during midday trading on Friday, reaching $59.15. 220,396 shares of the company traded hands, compared to its average volume of 179,774. Simmons First National has a fifty-two week low of $49.75 and a fifty-two week high of $61.95. The firm has a market capitalization of $2,677.75, a price-to-earnings ratio of 18.72 and a beta of 1.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.90 and a quick ratio of 0.90.

Simmons First National’s stock is going to split before the market opens on Friday, February 9th. The 2-1 split was announced on Thursday, January 18th. The newly created shares will be distributed to shareholders after the market closes on Thursday, February 8th.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings data on Sunday, October 22nd. The bank reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.01). Simmons First National had a net margin of 21.58% and a return on equity of 8.79%. equities research analysts anticipate that Simmons First National will post 3.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 1.69%. Simmons First National’s dividend payout ratio (DPR) is presently 31.65%.

In other Simmons First National news, Director Christopher R. Kirkland sold 160,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $57.11, for a total value of $9,137,600.00. Following the sale, the director now directly owns 76,949 shares in the company, valued at $4,394,557.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Russell William Teubner sold 4,334 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $55.69, for a total transaction of $241,360.46. Following the sale, the director now owns 705 shares in the company, valued at $39,261.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 349,122 shares of company stock worth $19,827,028. Company insiders own 4.63% of the company’s stock.

Several large investors have recently modified their holdings of SFNC. Schwab Charles Investment Management Inc. raised its holdings in shares of Simmons First National by 3.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 140,336 shares of the bank’s stock worth $7,424,000 after acquiring an additional 4,919 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Simmons First National by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,182 shares of the bank’s stock worth $168,000 after acquiring an additional 476 shares during the period. LSV Asset Management acquired a new stake in shares of Simmons First National during the second quarter worth $333,000. Wells Fargo & Company MN raised its holdings in shares of Simmons First National by 10.6% during the second quarter. Wells Fargo & Company MN now owns 23,183 shares of the bank’s stock worth $1,226,000 after acquiring an additional 2,221 shares during the period. Finally, Riverhead Capital Management LLC raised its holdings in shares of Simmons First National by 63.9% during the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the bank’s stock worth $113,000 after acquiring an additional 831 shares during the period. Institutional investors and hedge funds own 51.33% of the company’s stock.

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About Simmons First National

Simmons First National Corporation is a financial holding company. The Company, through its subsidiary bank, Simmons Bank, provides financial services to individuals and businesses throughout the market areas they serve. As of December 31, 2016, Simmons Bank conducted banking operations through 150 financial centers located in communities throughout Arkansas, Kansas, Missouri, Tennessee, Colorado, Oklahoma and Texas.

Analyst Recommendations for Simmons First National (NASDAQ:SFNC)

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