Simmons First National (NASDAQ:SFNC) Price Target Raised to $27.00

Simmons First National (NASDAQ:SFNC) had its target price hoisted by Morgan Stanley from $26.00 to $27.00 in a report released on Monday,Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

Several other research firms have also issued reports on SFNC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Simmons First National in a research note on Tuesday, July 21st. Piper Sandler upgraded shares of Simmons First National from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $26.00 to $27.50 in a report on Friday, September 4th. Keefe, Bruyette & Woods lowered their target price on shares of Simmons First National from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday. Robert W. Baird set a $25.00 target price on shares of Simmons First National in a research report on Monday. Finally, National Bank Financial set a $26.00 target price on Simmons First National in a report on Friday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Simmons First National presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.69.

Simmons First National Price Performance

Shares of SFNC opened at $22.89 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $3.31 billion, a PE ratio of 11.11 and a beta of 0.92. The firm’s 50 day moving average price is $22.85 and its 200 day moving average price is $22.29. Simmons First National has a twelve month low of $17.00 and a twelve month high of $24.32.

Simmons First National (NASDAQ:SFNC) last posted its earnings results on Thursday, October 15th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. Simmons First National had a net margin of 18.38% and a return on equity of 8.73%. The company had revenue of $251.17 million during the quarter, compared to the consensus estimate of $254.03 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts expect that Simmons First National will post 2.08 EPS for the current fiscal year.

Simmons First National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were given a dividend of $0.2150 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.86 dividend on an annualized basis and a yield of 3.8%. Simmons First National’s payout ratio is currently 48.04%.

Institutional Investors Weigh In On Simmons First National

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. increased its stake in shares of Simmons First National by 156.0% in the first quarter. Bessemer Group Inc. now owns 1,518 shares of the bank’s stock worth $29,000 after purchasing an additional 925 shares during the period. Nykredit A S acquired a new position in shares of Simmons First National during the 2nd quarter worth about $41,000. Allworth Financial LP lifted its position in shares of Simmons First National by 96.2% during the 2nd quarter. Allworth Financial LP now owns 2,091 shares of the bank’s stock worth $47,000 after purchasing an additional 1,025 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Simmons First National by 31.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,339 shares of the bank’s stock worth $45,000 after purchasing an additional 566 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Simmons First National during the 2nd quarter valued at approximately $88,000. 27.58% of the stock is owned by institutional investors and hedge funds.

Simmons First National Company Profile

Simmons First National Corporation is a financial holding company headquartered in Pine Bluff, Arkansas. Its principal subsidiary, Simmons Bank, provides banking and financial services to individuals, families, businesses and institutions.

The bank offers deposit accounts, consumer and commercial lending, residential and commercial real estate financing, treasury and cash-management services, credit cards, and online and mobile banking. It also provides wealth management, trust, investment and insurance services through specialized business lines.

Founded in 1903, Simmons has expanded from its Arkansas roots into a regional banking franchise serving customers through branches and financial centers across Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee and Texas.