Brokerages Set Simmons First National Corporation (NASDAQ:SFNC) Price Target at $23.00

Shares of Simmons First National Corporation (NASDAQ:SFNC) have earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $23.6667.

Several equities analysts recently commented on the company. DA Davidson reiterated a “neutral” rating and issued a $23.00 price objective on shares of Simmons First National in a research note on Friday. Zacks Research downgraded Simmons First National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. National Bank Financial set a $24.00 target price on Simmons First National in a research note on Monday, June 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $25.00 price target on shares of Simmons First National in a research report on Friday. Finally, Weiss Ratings upgraded Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th.

Simmons First National Stock Performance

NASDAQ SFNC opened at $22.95 on Friday. The company has a market capitalization of $3.33 billion, a PE ratio of -9.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. Simmons First National has a 52-week low of $17.00 and a 52-week high of $23.91. The company has a 50-day simple moving average of $21.97 and a 200 day simple moving average of $20.80.

Simmons First National (NASDAQ:SFNC) last released its earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Simmons First National had a negative net margin of 24.64% and a positive return on equity of 8.36%. The company had revenue of $248.57 million during the quarter, compared to analysts’ expectations of $250.98 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, research analysts predict that Simmons First National will post 2.08 EPS for the current year.

Simmons First National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a dividend of $0.215 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.86 annualized dividend and a yield of 3.7%. Simmons First National’s dividend payout ratio is -33.59%.

Hedge Funds Weigh In On Simmons First National

Several large investors have recently modified their holdings of the business. Bessemer Group Inc. lifted its stake in shares of Simmons First National by 156.0% during the 1st quarter. Bessemer Group Inc. now owns 1,518 shares of the bank’s stock valued at $29,000 after buying an additional 925 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Simmons First National by 197.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock valued at $32,000 after buying an additional 1,104 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in Simmons First National by 35.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank’s stock valued at $36,000 after acquiring an additional 495 shares during the period. Osaic Holdings Inc. raised its holdings in Simmons First National by 32.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock valued at $50,000 after acquiring an additional 644 shares during the period. Finally, Systematic Financial Management LP purchased a new stake in shares of Simmons First National during the fourth quarter worth $66,000. Hedge funds and other institutional investors own 27.58% of the company’s stock.

Simmons First National News Summary

Here are the key news stories impacting Simmons First National this week:

• Positive Sentiment: Adjusted earnings of $0.50 per share and revenue growth of 16.1% year over year indicate the business is still expanding. Simmons First National Corporation Reports Second Quarter Results
• Positive Sentiment: The bank maintained a stable net interest margin and reported improved deposit mix, which supports profitability. Simmons First National Corporation Reports Second Quarter Results
• Neutral Sentiment: DA Davidson reaffirmed its neutral rating and set a $23 price target, only slightly above the recent share price, suggesting limited near-term upside. Benzinga
• Negative Sentiment: The modest earnings and revenue misses versus analyst estimates likely pressured the stock, as investors focused on the quarter coming in below expectations. Simmons First National (SFNC) Lags Q2 Earnings and Revenue Estimates

Simmons First National Company Profile

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.