Simmons First National (NASDAQ:SFNC) Shares Gap Down – Here’s Why

Simmons First National Co. (NASDAQ:SFNC)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $23.30, but opened at $22.36. Simmons First National shares last traded at $23.53, with a volume of 117,493 shares.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Stephens upped their target price on shares of Simmons First National from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Piper Sandler upped their price objective on shares of Simmons First National from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. StockNews.com downgraded shares of Simmons First National from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Finally, Keefe, Bruyette & Woods upped their price target on Simmons First National from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, Simmons First National currently has a consensus rating of “Hold” and a consensus target price of $21.75.

Simmons First National Stock Down 0.1 %

The business’s fifty day moving average is $21.15 and its two-hundred day moving average is $19.26. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 17.50 and a beta of 0.87. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.50.

Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.33 by $0.04. The business had revenue of $203.20 million during the quarter, compared to the consensus estimate of $204.91 million. Simmons First National had a net margin of 10.49% and a return on equity of 5.33%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Equities analysts forecast that Simmons First National Co. will post 1.32 earnings per share for the current fiscal year.

Simmons First National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, September 13th. Simmons First National’s dividend payout ratio is currently 63.16%.

Insider Transactions at Simmons First National

In related news, CAO David W. Garner sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $21.21, for a total value of $76,356.00. Following the sale, the chief accounting officer now owns 64,966 shares of the company’s stock, valued at $1,377,928.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Robert A. Fehlman sold 8,680 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $21.93, for a total value of $190,352.40. Following the transaction, the chief executive officer now owns 156,357 shares in the company, valued at approximately $3,428,909.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO David W. Garner sold 3,600 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $21.21, for a total value of $76,356.00. Following the sale, the chief accounting officer now directly owns 64,966 shares in the company, valued at $1,377,928.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,700 shares of company stock valued at $728,952. 1.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Simmons First National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC purchased a new position in Simmons First National during the 1st quarter worth approximately $3,577,000. Public Employees Retirement System of Ohio increased its holdings in shares of 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. increased its holdings in shares of Simmons First National by 17.1% in 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 period. BNP Paribas Financial Markets raised its position in 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 boosted its stake in Simmons First National by 50.8% during the 1st quarter. Empowered Funds LLC now owns 188,822 shares of the bank’s stock worth $3,674,000 after purchasing an additional 63,589 shares during the period. Institutional investors and hedge funds own 27.58% of the company’s stock.

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.