Simmons First National (NASDAQ:SFNC) Sets New 52-Week High – Should You Buy?

Simmons First National Corporation (NASDAQ:SFNC) shares hit a new 52-week high on Monday . The stock traded as high as $23.92 and last traded at $23.9260, with a volume of 553049 shares traded. The stock had previously closed at $23.59.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. DA Davidson reiterated a “neutral” rating and set a $23.00 price objective on shares of Simmons First National in a research report on Friday, July 17th. Raymond James Financial restated an “outperform” rating and set a $25.00 target price on shares of Simmons First National in a research report on Friday, July 17th. Stephens increased their price target on shares of Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods lifted their price target on Simmons First National from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Finally, National Bank Financial set a $25.00 price objective on Simmons First National in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Simmons First National presently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

Simmons First National Price Performance

The company has a market capitalization of $3.47 billion, a P/E ratio of -9.46 and a beta of 0.91. The firm’s fifty day moving average is $22.42 and its 200 day moving average is $21.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 0.93.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). Simmons First National had a positive return on equity of 8.32% and a negative net margin of 24.64%.The firm had revenue of $248.57 million during the quarter, compared to the consensus estimate of $250.98 million. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts predict that Simmons First National Corporation will post 2.05 earnings per share for the current fiscal year.

Simmons First National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, June 15th. Simmons First National’s dividend payout ratio is presently -33.99%.

Hedge Funds Weigh In On Simmons First National

A number of large investors have recently bought and sold shares of the business. Royal Bank of Canada grew its position in Simmons First National by 27.2% in the 1st quarter. Royal Bank of Canada now owns 88,632 shares of the bank’s stock valued at $1,820,000 after acquiring an additional 18,933 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Simmons First National by 271.3% during the first quarter. AQR Capital Management LLC now owns 158,856 shares of the bank’s stock worth $3,261,000 after purchasing an additional 116,072 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Simmons First National by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,861 shares of the bank’s stock valued at $1,516,000 after purchasing an additional 3,221 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Simmons First National by 3,624.6% during the first quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank’s stock valued at $268,000 after purchasing an additional 12,686 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in shares of Simmons First National by 1,288.2% in the first quarter. Jones Financial Companies Lllp now owns 18,046 shares of the bank’s stock worth $411,000 after purchasing an additional 16,746 shares during the last quarter. Hedge funds and other institutional investors own 27.58% of the company’s stock.

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.