Simmons First National Co. Forecasted to Earn FY2024 Earnings of $1.29 Per Share (NASDAQ:SFNC)

Simmons First National Co. (NASDAQ:SFNC) – Research analysts at DA Davidson dropped their FY2024 EPS estimates for shares of Simmons First National in a research report issued 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 prior forecast of $1.60. The consensus estimate for Simmons First National’s current full-year earnings is $1.42 per share.

Simmons First National (NASDAQ:SFNC) last released 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 company had revenue of $197.80 million during the quarter, compared to the consensus estimate of $204.25 million. During the same quarter last year, the company earned $0.64 earnings per share. Simmons First National’s quarterly revenue was down 15.3% compared to the same quarter last year.

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

Simmons First National Price Performance

Simmons First National stock opened at $18.40 on Friday. 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 quick ratio of 0.77 and a current ratio of 0.77. The business has a fifty day moving average of $18.77 and a two-hundred day moving average of $17.93. The company has a market cap of $2.31 billion, a P/E ratio of 13.33 and a beta of 0.87.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Walleye Capital LLC acquired a new position in shares of Simmons First National during the 3rd quarter worth $1,951,000. Victory Capital Management Inc. raised its stake in shares of Simmons First National by 406.8% during the 3rd quarter. Victory Capital Management Inc. now owns 204,984 shares of the bank’s stock worth $3,477,000 after buying an additional 164,535 shares during the last quarter. WBI Investments Inc. acquired a new position in shares of Simmons First National during the 3rd quarter worth $683,000. Charles Schwab Investment Management Inc. raised its stake in shares of Simmons First National by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,534,377 shares of the bank’s stock worth $26,023,000 after buying an additional 93,507 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC raised its stake in shares of Simmons First National by 3.8% during the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 70,298 shares of the bank’s stock worth $1,408,000 after buying an additional 2,550 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

Simmons First National Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Simmons First National’s previous quarterly dividend of $0.20. Simmons First National’s payout ratio is 60.87%.

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.