Brokers Set Expectations for Simmons First National Co.’s Q1 2024 Earnings (NASDAQ:SFNC)

Simmons First National Co. (NASDAQ:SFNC) – Analysts at DA Davidson decreased their Q1 2024 earnings per share (EPS) estimates for Simmons First National in a report issued on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $0.31 per share for the quarter, down from their previous estimate of $0.33. The consensus estimate for Simmons First National’s current full-year earnings is $1.42 per share. DA Davidson also issued estimates for Simmons First National’s FY2025 earnings at $1.58 EPS.

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

Several other analysts also recently issued reports on SFNC. StockNews.com downgraded Simmons First National from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Robert W. Baird increased their target price on Simmons First National from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th.

Simmons First National Stock Performance

Shares of NASDAQ SFNC opened at $17.69 on Thursday. The company has a market capitalization of $2.22 billion, a P/E ratio of 12.65 and a beta of 0.87. The business’s 50-day moving average price is $18.77 and its two-hundred day moving average price is $17.92. Simmons First National has a one year low of $13.36 and a one year high of $20.82. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.77 and a quick ratio of 0.77.

Hedge Funds Weigh In On Simmons First National

Several large investors have recently added to or reduced their stakes in SFNC. Norges Bank acquired a new position in Simmons First National in the 4th quarter valued at approximately $27,751,000. State Street Corp raised its holdings 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 acquiring an additional 911,143 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Simmons First National by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 13,036,376 shares of the bank’s stock worth $341,814,000 after buying an additional 677,796 shares during the period. Hsbc Holdings PLC lifted its position in shares of Simmons First National by 56.4% during the 1st quarter. Hsbc Holdings PLC now owns 1,043,756 shares of the bank’s stock worth $27,649,000 after buying an additional 376,371 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Simmons First National by 54.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 992,678 shares of the bank’s stock worth $19,695,000 after buying an additional 349,534 shares during the period. Institutional investors and hedge funds own 27.58% of the company’s stock.

Simmons First National Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.21 per share. This is an increase from Simmons First National’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.84 annualized dividend and a yield of 4.75%. Simmons First National’s dividend payout ratio is presently 60.87%.

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.