DA Davidson Issues Positive Forecast for Simmons First National (NASDAQ:SFNC) Stock Price

Key Points

• DA Davidson raised its price target for Simmons First National from $24 to $25 while maintaining a “neutral” rating, implying 12.54% upside from the prior close.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and average target price of $25.69; individual targets range from $25 to $27.50.
• Simmons First National reported quarterly EPS of $0.54, slightly above estimates, while revenue rose 8% year over year to $251.17 million. Institutional investors own 27.58% of the company’s stock.

Simmons First National (NASDAQ:SFNC - Get Free Report) had its price objective hoisted by research analysts at DA Davidson from $24.00 to $25.00 in a research note issued on Monday, Benzinga reports. The firm presently has a "neutral" rating on the bank's stock. DA Davidson's price target points to a potential upside of 12.54% from the stock's previous close.

Several other research analysts have also issued reports on SFNC. Robert W. Baird set a $25.00 price target on shares of Simmons First National in a research note on Monday. National Bank Financial set a $26.00 target price on Simmons First National in a research note on Friday, September 4th. Raymond James Financial reiterated an "outperform" rating and issued a $25.00 price target on shares of Simmons First National in a research note on Friday, July 17th. Morgan Stanley lifted their target price on shares of Simmons First National from $26.00 to $27.00 and gave the stock an "underweight" rating in a report on Monday. Finally, Piper Sandler upgraded shares of Simmons First National from an "underweight" rating to an "overweight" rating and upped their target price for the stock from $26.00 to $27.50 in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Simmons First National presently has a consensus rating of "Moderate Buy" and an average target price of $25.69.

Simmons First National Trading Up 0.7%

SFNC traded up $0.14 during trading on Monday, hitting $22.21. 2,529,360 shares of the stock traded hands, compared to its average volume of 1,351,870. The firm has a 50-day moving average of $22.92 and a 200 day moving average of $22.23. 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 $3.21 billion, a P/E ratio of 12.40 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.95.

Simmons First National (NASDAQ:SFNC - Get Free Report) 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 firm had revenue of $251.17 million during the quarter, compared to analysts' expectations of $254.03 million. During the same period last year, the company posted $0.46 EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Simmons First National will post 2.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp grew its position in Simmons First National by 17,016.7% in the first quarter. Fifth Third Bancorp now owns 125,294 shares of the bank's stock worth $2,437,000 after acquiring an additional 124,562 shares in the last quarter. Bank of America Corp DE raised its stake in shares of 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 acquiring an additional 123,732 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Simmons First National by 213.2% during the 1st quarter. Quantinno Capital Management LP now owns 206,793 shares of the bank's stock worth $4,022,000 after purchasing an additional 140,769 shares during the period. Sei Investments Co. grew its holdings in Simmons First National by 151.6% during the 1st quarter. Sei Investments Co. now owns 405,336 shares of the bank's stock valued at $7,884,000 after purchasing an additional 244,220 shares during the last quarter. Finally, Empowered Funds LLC raised its position in Simmons First National by 33.5% in 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 during the period. Hedge funds and other institutional investors own 27.58% of the company's stock.

About Simmons First National

Simmons First National Corporation is a financial services company headquartered in Pine Bluff, Arkansas, and the parent company of Simmons Bank. Founded in 1903, the company has grown from a community bank into a regional banking organization serving businesses, individuals and institutions.

Simmons Bank provides a range of banking services, including checking and savings accounts, commercial and consumer lending, residential mortgage lending, credit cards and treasury management. The bank also offers wealth management, trust, investment and brokerage services to individuals, businesses and nonprofit organizations.

Through its branch network and digital banking platforms, Simmons Bank serves customers in Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee and Texas.

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