Simmons First National (NASDAQ:SFNC) Declares Stock Repurchase Program

Simmons First National (NASDAQ:SFNC) declared that its Board of Directors has approved a share buyback program on Tuesday, February 17th, RTT News reports. The company plans to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Simmons First National Trading Down 0.3%

Simmons First National stock traded down $0.07 during mid-day trading on Tuesday, hitting $21.29. The company’s stock had a trading volume of 807,000 shares, compared to its average volume of 1,281,453. The firm has a market capitalization of $3.08 billion, a PE ratio of -7.69 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18. Simmons First National has a 1 year low of $17.00 and a 1 year high of $22.76. The stock’s fifty day moving average is $19.93 and its two-hundred day moving average is $19.39.

Simmons First National (NASDAQ:SFNC) last announced its earnings results on Tuesday, January 20th. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The company had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $238.68 million. Simmons First National had a positive return on equity of 6.73% and a negative net margin of 27.83%.Simmons First National’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. On average, analysts anticipate that Simmons First National will post 1.66 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on SFNC. Wall Street Zen upgraded shares of Simmons First National from a “sell” rating to a “hold” rating in a report on Monday, January 26th. Morgan Stanley upped their price target on shares of Simmons First National from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Piper Sandler upgraded shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Robert W. Baird raised shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Finally, Zacks Research upgraded Simmons First National from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Simmons First National presently has a consensus rating of “Moderate Buy” and an average price target of $22.43.

About Simmons First National

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.