On January 24, 2024, Simmons First National Corporation (NASDAQ: SFNC) announced its financial results for the fourth quarter. The company reported a net income of $23.9 million, showing a decrease compared to both the previous quarter and the same period last year. Despite this decline, the company’s earnings managed to surpass expectations.
During the quarter, Simmons First National Corporation generated a total revenue of $345.5 million. However, when considering revenue net of interest expense, the figure stood at $177.6 million, slightly lower than what analysts had predicted.
Interestingly, following the release of the earnings report, the company’s stock experienced an upward trend in trading. This suggests that investors may have responded positively to the results, despite the decrease in profit.
For those seeking further financial information and investor relations, it is recommended to visit Simmons First National Corporation’s official Investor Relations website.
SFNC Stock Gains Positive Momentum, Trading Above 200-Day Moving Average
On January 24, 2024, SFNC stock showed positive momentum, trading in the middle of its 52-week range and above its 200-day simple moving average. The stock opened at $19.54, which was $0.34 higher than its previous close.
SFNC Stock Performance on January 24, 2024: Positive Revenue Growth but Declining Net Income and Earnings per Share
SFNC Stock Performance on January 24, 2024:
Total revenue increased by 20.32% over the past year, reaching $1.03 billion. Compared to the previous quarter, total revenue also increased by 3.17%.
Net income for the past year stood at $256.41 million, reflecting a substantial amount, but it decreased by 5.44% compared to the previous year. In the third quarter, net income experienced a significant drop of 18.98% compared to the previous quarter.
Earnings per share (EPS) for the past year was $2.06, which decreased by 16.27% compared to the previous year. In the third quarter, EPS decreased by 18.28% compared to the previous quarter.
SFNC’s stock performance on January 24, 2024, showed positive revenue growth but declining net income and earnings per share.
Investors should consider various factors beyond financial figures before making any investment decisions related to SFNC stock.
