Simmons First National (NASDAQ:SFNC) Price Target Raised to $26.00

Simmons First National (NASDAQ:SFNC) had its price objective upped by Keefe, Bruyette & Woods from $25.00 to $26.00 in a report issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 9.20% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Morgan Stanley reaffirmed a “positive” rating on shares of Simmons First National in a research report on Monday, June 29th. Piper Sandler raised shares of Simmons First National from an “underweight” rating to an “overweight” rating and set a $27.50 price objective for the company in a research report on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Simmons First National in a report on Tuesday, July 21st. National Bank Financial set a $26.00 price objective on shares of Simmons First National in a research report on Friday. Finally, Raymond James Financial restated an “outperform” rating and set a $25.00 target price on shares of Simmons First National in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.21.

Simmons First National Stock Performance

Shares of SFNC stock traded up $0.83 on Friday, reaching $23.81. The stock had a trading volume of 1,121,500 shares, compared to its average volume of 1,287,239. Simmons First National has a 12 month low of $17.00 and a 12 month high of $24.32. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -9.43 and a beta of 0.89. The firm’s 50-day moving average is $23.13 and its two-hundred day moving average is $21.58. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.36.

Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Simmons First National had a positive return on equity of 8.32% and a negative net margin of 24.64%.The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. On average, research analysts expect that Simmons First National will post 2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SFNC. Wellington Management Group LLP bought a new stake in shares of Simmons First National in the third quarter valued at about $129,282,000. California State Teachers Retirement System increased its position in Simmons First National by 1,978.2% during the second quarter. California State Teachers Retirement System now owns 3,734,238 shares of the bank’s stock worth $84,580,000 after acquiring an additional 3,554,556 shares during the period. Basswood Capital Management L.L.C. raised its stake in Simmons First National by 325.7% in the 4th quarter. Basswood Capital Management L.L.C. now owns 1,143,055 shares of the bank’s stock worth $21,547,000 after purchasing an additional 874,513 shares in the last quarter. Leeward Investments LLC MA acquired a new stake in Simmons First National in the 1st quarter worth about $15,744,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Simmons First National by 97.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,469,594 shares of the bank’s stock valued at $27,702,000 after purchasing an additional 725,489 shares during the period. Institutional investors own 27.58% of the company’s stock.

About Simmons First National

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.