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

Simmons First National Co. (NASDAQ:SFNC) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. 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 traded.

The bank reported $0.26 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 business 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 earned $0.32 earnings per share.

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 paid a $0.2125 dividend. This is a boost from Simmons First National’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, March 14th. This represents a $0.85 annualized dividend and a dividend yield of 4.89%. Simmons First National’s payout ratio is currently 70.25%.

Wall Street Analyst Weigh In

Separately, Stephens cut their target price on Simmons First National from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SFNC. QRG Capital Management Inc. increased its position in shares of Simmons First National by 11.4% during the first quarter. QRG Capital Management Inc. now owns 17,917 shares of the bank’s stock worth $368,000 after buying an additional 1,838 shares during the period. Sowell Financial Services LLC boosted its position in Simmons First National by 7.7% during the first quarter. Sowell Financial Services LLC now owns 14,738 shares of the bank’s stock valued at $303,000 after acquiring an additional 1,056 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Simmons First National by 1,263.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 7,621 shares of the bank’s stock worth $156,000 after acquiring an additional 7,062 shares during the period. NorthCrest Asset Manangement LLC bought a new position in shares of Simmons First National in the 1st quarter worth about $298,000. Finally, SG Americas Securities LLC acquired a new position in shares of Simmons First National in the 1st quarter valued at about $1,086,000. Institutional investors and hedge funds own 27.58% of the company’s stock.

Simmons First National Trading Down 4.0 %

The firm has a 50-day moving average of $20.39 and a 200 day moving average of $22.16. The company has a market cap of $2.19 billion, a P/E ratio of 14.37 and a beta of 0.82. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.32.

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.