Zacks Investment Research cut shares of Simmons First National Co. (NASDAQ:SFNC) from a buy rating to a sell rating in a report issued on Friday, October 27th.
According to Zacks, “SIMMONS FIRST NATIONAL CORP bank holding company registered under the Bank Holding Act of 1956. Through its subsidiaries, Co. provides a full range of banking and mortgage services to individual and corporate customers. “
A number of other brokerages have also issued reports on SFNC. Sandler O’Neill reaffirmed a hold rating and set a $62.00 target price on shares of Simmons First National in a research report on Tuesday, October 24th. Piper Jaffray Companies restated a neutral rating and issued a $60.00 target price on shares of Simmons First National in a research note on Thursday, October 5th. Raymond James Financial, Inc. upgraded Simmons First National from an underperform rating to a market perform rating in a research note on Wednesday, July 5th. Stephens upgraded Simmons First National from an equal weight rating to a buy rating and increased their target price for the company from $60.00 to $64.00 in a research note on Friday, July 21st. Finally, BidaskClub upgraded Simmons First National from a sell rating to a hold rating in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $62.40.
Shares of Simmons First National (NASDAQ SFNC) traded down $0.33 during trading on Friday, hitting $54.92. The stock had a trading volume of 165,800 shares, compared to its average volume of 165,336. The firm has a market capitalization of $2,539.84, a price-to-earnings ratio of 16.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.90 and a current ratio of 0.90. Simmons First National has a twelve month low of $49.75 and a twelve month high of $67.00.
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In related news, Director Christopher R. Kirkland sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $55.12, for a total transaction of $2,756,000.00. Following the sale, the director now owns 208,276 shares of the company’s stock, valued at approximately $11,480,173.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barry K. Ledbetter sold 1,900 shares of Simmons First National stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $57.37, for a total value of $109,003.00. The disclosure for this sale can be found here. Insiders sold a total of 174,955 shares of company stock worth $9,648,058 over the last 90 days. 4.63% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC increased its position in shares of Simmons First National by 63.9% in the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the bank’s stock valued at $113,000 after acquiring an additional 831 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Simmons First National by 23.8% in the first quarter. Victory Capital Management Inc. now owns 2,706 shares of the bank’s stock valued at $149,000 after acquiring an additional 521 shares during the last quarter. SG Americas Securities LLC grew its holdings in Simmons First National by 24.6% during the first quarter. SG Americas Securities LLC now owns 3,598 shares of the bank’s stock worth $198,000 after purchasing an additional 710 shares during the period. United Capital Financial Advisers LLC bought a new position in Simmons First National during the first quarter worth about $224,000. Finally, Amalgamated Bank grew its holdings in Simmons First National by 3.8% during the second quarter. Amalgamated Bank now owns 4,122 shares of the bank’s stock worth $218,000 after purchasing an additional 151 shares during the period. 52.00% of the stock is currently owned by institutional investors and hedge funds.
About Simmons First National
Simmons First National Corporation is a financial holding company. The Company, through its subsidiary bank, Simmons Bank, provides financial services to individuals and businesses throughout the market areas they serve. As of December 31, 2016, Simmons Bank conducted banking operations through 150 financial centers located in communities throughout Arkansas, Kansas, Missouri, Tennessee, Colorado, Oklahoma and Texas.
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