Simmons First National (NASDAQ:SFNC) Reaches New 12-Month High – Still a Buy?

Simmons First National Corporation (NASDAQ:SFNC)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $24.50 and last traded at $23.84, with a volume of 109,763 shares trading hands. The stock had previously closed at $23.51.

Analyst Upgrades and Downgrades

SFNC has been the subject of a number of recent research reports. Weiss Ratings raised Simmons First National from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Keefe, Bruyette & Woods lowered their price target on shares of Simmons First National from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Piper Sandler raised shares of Simmons First National from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $26.00 to $27.50 in a report on Friday, September 4th. Zacks Research upgraded shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Finally, Morgan Stanley raised their price objective on shares of Simmons First National from $26.00 to $27.00 and gave the stock an “underweight” rating in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.69.

Simmons First National Price Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 13.33 and a beta of 0.94. The stock’s 50-day simple moving average is $22.83 and its 200 day simple moving average is $21.76.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Thursday, October 15th. The bank reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. Simmons First National had a net margin of 18.38% and a return on equity of 8.73%. The business had revenue of $251.17 million during the quarter, compared to analysts’ expectations of $254.03 million. During the same period last year, the business earned $0.46 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts anticipate that Simmons First National Corporation will post 2.08 EPS for the current fiscal year.

Simmons First National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were issued a $0.2150 dividend. This represents a $0.86 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, September 15th. Simmons First National’s dividend payout ratio (DPR) is 48.04%.

Institutional Trading of Simmons First National

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SFNC. Bessemer Group Inc. boosted its position in shares of Simmons First National by 156.0% during the first quarter. Bessemer Group Inc. now owns 1,518 shares of the bank’s stock worth $29,000 after buying an additional 925 shares during the period. Nykredit A S acquired a new stake in shares of Simmons First National in the second quarter valued at $41,000. Root Financial Partners LLC acquired a new stake in shares of Simmons First National in the third quarter valued at $42,000. Heritage Family Offices LLP purchased a new stake in shares of Simmons First National in the 3rd quarter valued at $45,000. Finally, Allworth Financial LP raised its holdings in shares of Simmons First National by 96.2% in the 2nd quarter. Allworth Financial LP now owns 2,091 shares of the bank’s stock valued at $47,000 after buying an additional 1,025 shares during the period. Hedge funds and other institutional investors own 27.58% of the company’s stock.

About Simmons First National

Simmons First National Corporation is a financial holding company headquartered in Pine Bluff, Arkansas. Its principal subsidiary, Simmons Bank, provides banking and financial services to individuals, families, businesses and institutions.

The bank offers deposit accounts, consumer and commercial lending, residential and commercial real estate financing, treasury and cash-management services, credit cards, and online and mobile banking. It also provides wealth management, trust, investment and insurance services through specialized business lines.

Founded in 1903, Simmons has expanded from its Arkansas roots into a regional banking franchise serving customers through branches and financial centers across Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee and Texas.