Simmons First National (NASDAQ:SFNC) Stock Gets Price Target Boost from Morgan Stanley

Key Points

• Morgan Stanley raised its price target for Simmons First National from $26 to $27 but maintained an “underweight” rating, implying 21.27% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports an average “Moderate Buy” rating and a consensus target price of $25.44.
• Simmons First National reported quarterly EPS of $0.54, slightly above estimates, while revenue rose 8% year over year to $251.17 million, just below forecasts. Shares rose 0.9% to $22.27 in Monday trading.

Simmons First National (NASDAQ:SFNC - Get Free Report) had its target price lifted by Morgan Stanley from $26.00 to $27.00 in a report released on Monday, Benzinga reports. The firm currently has an "underweight" rating on the bank's stock. Morgan Stanley's price objective suggests a potential upside of 21.27% from the stock's previous close.

A number of other equities analysts have also weighed in on SFNC. Keefe, Bruyette & Woods decreased their price target on shares of Simmons First National from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Monday. DA Davidson restated a "neutral" rating and set a $23.00 price objective on shares of Simmons First National in a report on Friday, July 17th. National Bank Financial set a $26.00 price target on Simmons First National in a research report on Friday, September 4th. Piper Sandler upgraded Simmons First National from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $26.00 to $27.50 in a research note on Friday, September 4th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Simmons First National in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Simmons First National has an average rating of "Moderate Buy" and an average target price of $25.44.

Simmons First National Trading Up 0.9%

Shares of SFNC traded up $0.20 during mid-day trading on Monday, hitting $22.27. The company had a trading volume of 1,813,308 shares, compared to its average volume of 1,348,787. Simmons First National has a 1-year low of $17.00 and a 1-year high of $24.32. The business's 50-day simple moving average is $22.92 and its 200-day simple moving average is $22.23. The stock has a market cap of $3.22 billion, a PE ratio of 12.44 and a beta of 0.92. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Simmons First National (NASDAQ:SFNC - Get Free Report) last issued its quarterly 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 analyst estimates of $254.03 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. Simmons First National's revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that Simmons First National will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On Simmons First National

Several hedge funds and other institutional investors have recently made changes to their positions in SFNC. Wellington Management Group LLP raised its position 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 valued at $149,298,000 after purchasing an additional 245,024 shares during the period. Leeward Investments LLC MA purchased a new stake in shares of Simmons First National in the first quarter worth about $15,744,000. Principal Financial Group Inc. grew its stake in shares of 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 buying an additional 13,852 shares in the last quarter. Empowered Funds LLC grew its stake in shares of 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 buying an additional 157,061 shares in the last quarter. Finally, Bank of America Corp DE grew 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 buying an additional 123,732 shares in the last quarter. Institutional investors and hedge funds own 27.58% of the company's stock.

Simmons First National Company Profile

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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