Sandler O'Neill Cuts Rating On Simmons First National Corporat (SFNC) To “Hold”


Simmons First National Corporat (NASDAQ:SFNC).

On October 5, 2017 PiperJaffray added the stock to its research portfolio setting a rating of “Neutral” and a price target of $60.00.

In the market the company is trading down from yesterday’s close of 59.6. Additionally Simmons First National Corporat recently announced a dividend for shareholders that was paid on Monday the 2nd of October 2017. The dividend was $0.250 per share for the quarter which comes to $1.00 on an annualized basis. The dividend yield was $1.68. The ex-dividend date was set for Thursday the 14th of September 2017.

Company shares last traded at $59.10 a tad above $56.47, the 50 day moving average and just above the 200 day moving average of $53.74. The 50 day moving average went up $2.63 or +4.66% whereas the 200 day average was up by +9.98%.

Simmons First National Corporation, launched on October 22, 1968, 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 and Tennessee. Simmons Bank offers consumer, real estate and commercial loans, checking, savings and time deposits. Simmons Bank and its subsidiaries have also developed products and services, which include credit cards, trust and fiduciary services, investments, agricultural finance lending, equipment lending, insurance and small business administration (SBA) lending..

The company currently has a P/E ratio of 19.52 and the market cap of the company is 1.90B. In the last earnings report the EPS was $3.03 and is estimated to be $3.14 for the current year with 32,213,000 shares outstanding. Next quarter’s EPS is estimated at $0.88 and the next full year EPS is anticipated to be $3.86.

Traders are more bullish on shares of the company recently if you take into consideration the change in short interest. The company recorded a fall in short interest of -3.04% between September 15, 2017 and September 29, 2017. Short shares decreased from 2,818,512 to 2,732,773 over that timeframe. With short interest at 2,732,773 and short average daily volume at 166,936, days to cover is 16.0 and the short interest percentage is 0.09% as of September 29.