DA Davidson Weighs in on Simmons First National Co.’s Q2 2024 Earnings (NASDAQ:SFNC)

Simmons First National Co. (NASDAQ:SFNC) – DA Davidson issued their Q2 2024 earnings per share estimates for shares of Simmons First National in a report released on Thursday, April 25th. DA Davidson analyst G. Tenner forecasts that the bank will earn $0.30 per share for the quarter. The consensus estimate for Simmons First National’s current full-year earnings is $1.35 per share. DA Davidson also issued estimates for Simmons First National’s FY2025 earnings at $1.52 EPS.

Several other equities analysts have also recently commented on SFNC. Keefe, Bruyette & Woods cut their price target on Simmons First National from $21.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday. Robert W. Baird raised their price target on Simmons First National from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. StockNews.com lowered Simmons First National from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Stephens decreased their price objective on Simmons First National from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, Simmons First National has a consensus rating of “Hold” and an average target price of $21.00.

Simmons First National Price Performance

Shares of NASDAQ:SFNC opened at $17.85 on Friday. The business has a 50 day moving average price of $18.77 and a 200 day moving average price of $17.98. Simmons First National has a twelve month low of $13.36 and a twelve month high of $20.82. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 13.42 and a beta of 0.87. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.36.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Simmons First National had a return on equity of 5.94% and a net margin of 11.97%. The company had revenue of $195.10 million during the quarter, compared to the consensus estimate of $202.35 million. During the same quarter in the prior year, the company posted $0.37 EPS. The firm’s revenue was down 12.8% on a year-over-year basis.

Hedge Funds Weigh In On Simmons First National

Several institutional investors and hedge funds have recently made changes to their positions in the company. Walleye Capital LLC acquired a new stake in Simmons First National during the third quarter worth approximately $1,951,000. Victory Capital Management Inc. lifted its stake in Simmons First National by 406.8% during the third quarter. Victory Capital Management Inc. now owns 204,984 shares of the bank’s stock worth $3,477,000 after purchasing an additional 164,535 shares during the last quarter. WBI Investments Inc. bought a new stake in Simmons First National during the third quarter worth $683,000. Charles Schwab Investment Management Inc. lifted its stake in Simmons First National by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,534,377 shares of the bank’s stock worth $26,023,000 after purchasing an additional 93,507 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC lifted its stake in Simmons First National by 3.8% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 70,298 shares of the bank’s stock worth $1,408,000 after purchasing an additional 2,550 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

Simmons First National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.84 annualized dividend and a yield of 4.71%. Simmons First National’s dividend payout ratio is 63.16%.

Simmons First National Company Profile

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.