Research Analysts Issue Forecasts for Simmons First National Co.’s FY2024 Earnings (NASDAQ:SFNC)

Simmons First National Co. (NASDAQ:SFNC) – Research analysts at DA Davidson cut their FY2024 earnings per share estimates for shares of Simmons First National in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $1.32 per share for the year, down from their previous forecast of $1.35. The consensus estimate for Simmons First National’s current full-year earnings is $1.32 per share. DA Davidson also issued estimates for Simmons First National’s FY2025 earnings at $1.53 EPS.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com cut Simmons First National from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Stephens upped their price target on shares of Simmons First National from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Piper Sandler boosted their price target on Simmons First National from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their target price on Simmons First National from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, Simmons First National has a consensus rating of “Hold” and a consensus target price of $21.75.

Simmons First National Stock Performance

SFNC opened at $21.27 on Monday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 15.99 and a beta of 0.87. Simmons First National has a 1 year low of $13.36 and a 1 year high of $22.45. The business’s 50-day moving average price is $20.70 and its two-hundred day moving average price is $19.06. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.80 and a quick ratio of 0.80.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $372.44 million during the quarter, compared to analyst estimates of $197.30 million. Simmons First National had a return on equity of 5.33% and a net margin of 10.49%. During the same period last year, the company earned $0.48 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SFNC. Denali Advisors LLC acquired a new position in Simmons First National in the 1st quarter valued at $3,577,000. Public Employees Retirement System of Ohio increased its position in Simmons First National by 3,808.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 95,839 shares of the bank’s stock valued at $1,865,000 after acquiring an additional 93,387 shares during the period. Sei Investments Co. raised its stake in Simmons First National by 17.1% during the 1st quarter. Sei Investments Co. now owns 173,229 shares of the bank’s stock valued at $3,371,000 after acquiring an additional 25,316 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Simmons First National by 90.0% in the 1st quarter. BNP Paribas Financial Markets now owns 66,037 shares of the bank’s stock valued at $1,285,000 after purchasing an additional 31,284 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Simmons First National by 50.8% in the 1st quarter. Empowered Funds LLC now owns 188,822 shares of the bank’s stock valued at $3,674,000 after buying an additional 63,589 shares during the last quarter. 27.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Simmons First National

In other Simmons First National news, Chairman George Makris, Jr. sold 21,420 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $21.58, for a total value of $462,243.60. Following the completion of the sale, the chairman now owns 608,347 shares in the company, valued at approximately $13,128,128.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Robert A. Fehlman sold 8,680 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $21.93, for a total value of $190,352.40. Following the completion of the transaction, the chief executive officer now owns 156,357 shares of the company’s stock, valued at $3,428,909.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman George Makris, Jr. sold 21,420 shares of Simmons First National stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $21.58, for a total value of $462,243.60. Following the completion of the transaction, the chairman now owns 608,347 shares in the company, valued at $13,128,128.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,700 shares of company stock valued at $728,952 over the last ninety days. Insiders own 1.91% of the company’s stock.

Simmons First National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 3.95%. Simmons First National’s dividend payout ratio is 63.16%.

About Simmons First National

Simmons First National Corporation operates as the holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses. The company offers checking, savings, and time deposits; consumer, real estate, and commercial loans; agricultural finance, equipment, and small business administration lending; trust and fiduciary services; credit cards; investment management products; treasury management; insurance products; and securities and investment services.