Simmons First National (NASDAQ:SFNC) Price Target Raised to $25.00

Simmons First National (NASDAQ:SFNC) had its target price hoisted by DA Davidson from $24.00 to $25.00 in a report issued on Monday morning,Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock.

A number of other equities analysts also recently weighed in on SFNC. Raymond James Financial reissued an “outperform” rating and set a $25.00 target price on shares of Simmons First National in a research note on Friday, July 17th. Robert W. Baird set a $25.00 price target on shares of Simmons First National in a research report on Monday. Morgan Stanley upped their price target on shares of Simmons First National from $26.00 to $27.00 and gave the company an “underweight” rating in a research report on Monday. National Bank Financial set a $26.00 price target on Simmons First National in a report on Friday, September 4th. Finally, Piper Sandler upgraded Simmons First National from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $26.00 to $27.50 in a report on Friday, September 4th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Simmons First National currently has a consensus rating of “Moderate Buy” and an average price target of $25.69.

Simmons First National Stock Up 0.5%

Shares of NASDAQ SFNC opened at $22.89 on Monday. The company has a market capitalization of $3.31 billion, a P/E ratio of 11.11 and a beta of 0.92. Simmons First National has a 52-week low of $17.00 and a 52-week high of $24.32. 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 company’s 50 day moving average price is $22.85 and its 200-day moving average price is $22.29.

Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings data on Thursday, October 15th. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $254.03 million. During the same period in the prior year, the firm posted $0.46 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Equities analysts forecast that Simmons First National will post 2.08 earnings per share for the current year.

Simmons First National Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in Simmons First National by 3.9% in the second quarter. Wellington Management Group LLP now owns 6,591,542 shares of the bank’s stock worth $149,298,000 after purchasing an additional 245,024 shares during the period. Leeward Investments LLC MA acquired a new stake in Simmons First National in the first quarter worth $15,744,000. Principal Financial Group Inc. increased its stake in Simmons First National by 2.0% in the first quarter. Principal Financial Group Inc. now owns 703,543 shares of the bank’s stock valued at $13,684,000 after purchasing an additional 13,852 shares in the last quarter. Empowered Funds LLC increased its stake in Simmons First National by 33.5% in the first quarter. Empowered Funds LLC now owns 625,391 shares of the bank’s stock valued at $12,164,000 after purchasing an additional 157,061 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Simmons First National by 24.7% in the first quarter. Bank of America Corp DE now owns 624,613 shares of the bank’s stock valued at $12,149,000 after purchasing an additional 123,732 shares in the last quarter. 27.58% of the stock is owned by institutional investors.

About Simmons First National

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.