Simmons First National (NASDAQ:SFNC) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Simmons First National (NASDAQ:SFNC) had its price objective reduced by Keefe, Bruyette & Woods from $26.00 to $25.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the bank’s stock.

SFNC has been the topic of several other research reports. Robert W. Baird set a $25.00 target price on Simmons First National in a research report on Monday. Piper Sandler upgraded Simmons First National from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $26.00 to $27.50 in a research note on Friday, September 4th. National Bank Financial set a $26.00 target price on Simmons First National in a research note on Friday, September 4th. DA Davidson reissued a “neutral” rating and set a $23.00 price target on shares of Simmons First National in a report on Friday, July 17th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Simmons First National in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.69.

Simmons First National Stock Up 0.5%

Shares of SFNC opened at $22.89 on Monday. The firm has a market cap of $3.31 billion, a P/E ratio of 11.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 0.95. Simmons First National has a 52 week low of $17.00 and a 52 week high of $24.32. The firm’s 50-day simple moving average is $22.85 and its 200 day simple moving average is $22.29.

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

Simmons First National Dividend Announcement

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

Institutional Trading of Simmons First National

Several hedge funds and other institutional investors have recently bought and sold shares of SFNC. Wellington Management Group LLP raised its stake in Simmons First National by 3.9% in the 2nd 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 in the last quarter. Leeward Investments LLC MA bought a new stake in Simmons First National in the 1st quarter valued at about $15,744,000. Principal Financial Group Inc. grew its position in shares of Simmons First National by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 703,543 shares of the bank’s stock worth $13,684,000 after purchasing an additional 13,852 shares in the last quarter. Empowered Funds LLC grew its position in shares of Simmons First National by 33.5% during the 1st quarter. Empowered Funds LLC now owns 625,391 shares of the bank’s stock worth $12,164,000 after purchasing an additional 157,061 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Simmons First National by 24.7% during the 1st quarter. Bank of America Corp DE now owns 624,613 shares of the bank’s stock worth $12,149,000 after purchasing an additional 123,732 shares in the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

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.