Simmons First National Co. (NASDAQ:SFNC) Expected to Post FY2024 Earnings of $1.57 Per Share

Posted by Defense World Staff on Oct 5th, 2023

Simmons First National Co. (NASDAQ:SFNC – Free Report) – Equities research analysts at DA Davidson dropped their FY2024 earnings per share estimates for Simmons First National in a research report issued on Tuesday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the bank will earn $1.57 per share for the year, down from their prior forecast of $1.71. The consensus estimate for Simmons First National’s current full-year earnings is $1.58 per share.

Simmons First National (NASDAQ:SFNC – Get Free Report) last posted its earnings results on Tuesday, July 25th. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $342.20 million for the quarter, compared to analyst estimates of $213.85 million. Simmons First National had a return on equity of 8.28% and a net margin of 21.42%. During the same period last year, the company earned $0.52 earnings per share.

Several other equities analysts also recently issued reports on SFNC. TheStreet downgraded shares of Simmons First National from a “b-” rating to a “c+” rating in a research note on Wednesday, September 6th. StockNews.com started coverage on shares of Simmons First National in a research note on Thursday, August 17th. They issued a “sell” rating on the stock.

Check Out Our Latest Analysis on Simmons First National

Simmons First National Trading Up 0.7 %

NASDAQ:SFNC opened at $16.46 on Wednesday. The stock has a 50-day simple moving average of $17.93 and a 200-day simple moving average of $17.46. The stock has a market cap of $2.08 billion, a P/E ratio of 7.84 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.76 and a current ratio of 0.76. Simmons First National has a 1 year low of $14.68 and a 1 year high of $24.85.

Simmons First National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Thursday, September 14th. Simmons First National’s dividend payout ratio is currently 38.10%.

Insider Activity at Simmons First National

In related news, Director Dean O. Bass sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $19.78, for a total transaction of $593,400.00. Following the transaction, the director now directly owns 104,377 shares in the company, valued at $2,064,577.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Simmons First National

A number of hedge funds have recently modified their holdings of SFNC. Norges Bank bought a new stake in shares of Simmons First National during the 4th quarter valued at $26,533,000. State Street Corp lifted its stake in Simmons First National by 16.5% in the 1st quarter. State Street Corp now owns 6,418,405 shares of the bank’s stock valued at $169,413,000 after purchasing an additional 911,143 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Simmons First National by 5.5% in the first quarter. Vanguard Group Inc. now owns 13,036,376 shares of the bank’s stock worth $341,814,000 after acquiring an additional 677,796 shares during the period. LSV Asset Management raised its holdings in shares of Simmons First National by 1,489.3% during the second quarter. LSV Asset Management now owns 596,830 shares of the bank’s stock valued at $10,295,000 after purchasing an additional 559,277 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Simmons First National by 6.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,438,962 shares of the bank’s stock valued at $130,107,000 after acquiring an additional 434,843 shares in the last quarter. 13.09% of the stock is owned by institutional investors and hedge funds.

About Simmons First National

(Get Free Report)

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. It 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.