Simmons First National (NASDAQ:SFNC) Shares Gap Down on Disappointing Earnings

Simmons First National Co. (NASDAQ:SFNC - Get Free Report)'s stock price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $18.11, but opened at $17.26. Simmons First National shares last traded at $17.31, with a volume of 117,222 shares changing hands.

The bank reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.10). Simmons First National had a return on equity of 5.10% and a net margin of 10.46%. The firm had revenue of $209.58 million for the quarter, compared to analyst estimates of $209.00 million. During the same quarter in the prior year, the business posted $0.32 EPS.

Simmons First National Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.2125 per share. This is an increase from Simmons First National's previous quarterly dividend of $0.21. This represents a $0.85 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Friday, March 14th. Simmons First National's dividend payout ratio is currently 73.28%.

Wall Street Analysts Forecast Growth

SFNC has been the subject of a number of research reports. Stephens dropped their target price on shares of Simmons First National from $27.00 to $25.00 and set an "overweight" rating for the company in a report on Monday. Piper Sandler raised shares of Simmons First National from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $20.00 to $21.00 in a research note on Monday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Simmons First National from $23.00 to $21.00 and set a "market perform" rating for the company in a research note on Monday.

Institutional Investors Weigh In On Simmons First National

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new stake in Simmons First National during the 4th quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Simmons First National during the 4th quarter valued at $36,000. Quarry LP bought a new position in Simmons First National during the 4th quarter valued at $47,000. Smartleaf Asset Management LLC grew its stake in shares of Simmons First National by 168.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,144 shares of the bank's stock worth $48,000 after acquiring an additional 1,345 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Simmons First National by 813.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,911 shares of the bank's stock valued at $87,000 after purchasing an additional 3,483 shares during the last quarter. 27.58% of the stock is owned by institutional investors.

Simmons First National Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $2.19 billion, a PE ratio of 14.39 and a beta of 0.82. The firm's fifty day moving average is $20.28 and its two-hundred day moving average is $22.15.

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.