DA Davidson Weighs in on Simmons First National Co.’s FY2024 Earnings (NASDAQ:SFNC)

Simmons First National Co. (NASDAQ:SFNC) – Equities researchers at DA Davidson cut their FY2024 earnings estimates for Simmons First National in a report released on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the bank will post earnings per share of $1.29 for the year, down from their previous forecast of $1.60. The consensus estimate for Simmons First National’s current full-year earnings is $1.42 per share.

SFNC has been the subject of a number of other research reports. Robert W. Baird raised their price target on shares of Simmons First National from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. StockNews.com cut shares of Simmons First National from a “hold” rating to a “sell” rating in a report on Friday, February 2nd.

Simmons First National Price Performance

Shares of SFNC opened at $17.69 on Friday. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 12.82 and a beta of 0.87. Simmons First National has a twelve month low of $13.36 and a twelve month high of $20.82. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $18.77 and a two-hundred day moving average of $17.92.

Simmons First National (NASDAQ:SFNC) last announced its earnings results on Wednesday, January 24th. The bank reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $197.80 million during the quarter, compared to the consensus estimate of $204.25 million. Simmons First National had a net margin of 12.82% and a return on equity of 6.19%. Simmons First National’s revenue was down 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share.

Simmons First National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.75%. This is a boost from Simmons First National’s previous quarterly dividend of $0.20. Simmons First National’s dividend payout ratio (DPR) is currently 60.87%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in shares of Simmons First National during the fourth quarter worth $29,000. US Bancorp DE raised its holdings in shares of Simmons First National by 371.9% during the fourth quarter. US Bancorp DE now owns 1,897 shares of the bank’s stock worth $38,000 after purchasing an additional 1,495 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in shares of Simmons First National during the third quarter worth $81,000. Quantbot Technologies LP purchased a new position in shares of Simmons First National during the second quarter worth $153,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Simmons First National by 11.2% during the second quarter. Ameritas Investment Partners Inc. now owns 10,435 shares of the bank’s stock worth $180,000 after purchasing an additional 1,049 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 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.