Q2 2018 Earnings Forecast for Simmons First National Co. (SFNC) Issued By Piper Jaffray
Simmons First National Co. (NASDAQ:SFNC) – Equities research analysts at Piper Jaffray increased their Q2 2018 earnings estimates for Simmons First National in a research report issued to clients and investors on Tuesday, April 24th. Piper Jaffray analyst W. Curtiss now expects that the bank will earn $0.58 per share for the quarter, up from their prior forecast of $0.57. Piper Jaffray has a “Hold” rating and a $33.00 price objective on the stock. Piper Jaffray also issued estimates for Simmons First National’s Q3 2018 earnings at $0.59 EPS, FY2018 earnings at $2.36 EPS, Q3 2019 earnings at $0.66 EPS and FY2019 earnings at $2.54 EPS.
SFNC has been the topic of several other research reports. BidaskClub lowered Simmons First National from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Zacks Investment Research lowered Simmons First National from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Sandler O’Neill set a $31.50 price target on Simmons First National and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, ValuEngine lowered Simmons First National from a “hold” rating to a “sell” rating in a research note on Wednesday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.00.
Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Monday, April 23rd. The bank reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Simmons First National had a return on equity of 8.92% and a net margin of 19.70%. The business had revenue of $172.50 million for the quarter, compared to analyst estimates of $171.50 million.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB acquired a new position in Simmons First National during the 4th quarter worth about $242,000. MetLife Investment Advisors LLC acquired a new position in Simmons First National during the 4th quarter worth about $1,081,000. Municipal Employees Retirement System of Michigan lifted its stake in Simmons First National by 22.0% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 14,790 shares of the bank’s stock worth $845,000 after acquiring an additional 2,670 shares in the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. lifted its stake in Simmons First National by 294.1% during the 4th quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 15,862 shares of the bank’s stock worth $906,000 after acquiring an additional 11,837 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its holdings in Simmons First National by 37.9% during the 4th quarter. Meadow Creek Investment Management LLC now owns 6,800 shares of the bank’s stock worth $388,000 after purchasing an additional 1,870 shares during the period. 26.00% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Steven C. Wade sold 8,610 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $29.34, for a total transaction of $252,617.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vernon Wilson Jr. Bryant sold 5,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $59.93, for a total value of $299,650.00. Following the transaction, the insider now directly owns 165,853 shares in the company, valued at approximately $9,939,570.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,610 shares of company stock worth $5,015,517. 2.76% of the stock is owned by corporate insiders.
About Simmons First National
Simmons First National Corporation operates as the holding company for Simmons Bank that provides financial products and services to individuals and businesses. It offers checking, savings, and time deposits; loan products, including consumer, real estate, commercial, agricultural, equipment, and SBA lending; personal and corporate trust services; credit cards; investment management products; insurance products; and securities and investment services.
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