Keefe, Bruyette & Woods Lowers Simmons First National (NASDAQ:SFNC) Price Target to $21.00

Key Points

• Keefe, Bruyette & Woods has lowered its price target for Simmons First National from $22.00 to $21.00, maintaining a "market perform" rating with a potential upside of 14.82% from the previous close.
• Simmons First National recently reported earnings per share (EPS) of $0.46, missing estimates by $0.01, while experiencing a 14.4% year-over-year revenue increase.
• Insider purchases have increased, with individuals like Director Russell Teubner acquiring shares, suggesting growing confidence in the company's future performance.

Simmons First National (NASDAQ:SFNC - Get Free Report) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $22.00 to $21.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 14.82% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Weiss Ratings restated a "hold (c)" rating on shares of Simmons First National in a research note on Wednesday, October 8th. Zacks Research cut Simmons First National from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 13th. DA Davidson boosted their price target on Simmons First National from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Simmons First National from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $22.50.

Simmons First National Price Performance

SFNC stock opened at $18.29 on Monday. The stock has a 50-day moving average price of $19.90 and a two-hundred day moving average price of $19.34. Simmons First National has a 12-month low of $17.20 and a 12-month high of $25.95. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.65 billion, a PE ratio of -6.24 and a beta of 0.94.

Simmons First National (NASDAQ:SFNC - Get Free Report) last posted its quarterly earnings results on Thursday, October 16th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). Simmons First National had a negative net margin of 29.70% and a positive return on equity of 5.84%. The firm had revenue of $232.54 million for the quarter, compared to analysts' expectations of $103.26 million. During the same period last year, the firm posted $0.37 EPS. Simmons First National's revenue was up 14.4% on a year-over-year basis. As a group, research analysts predict that Simmons First National will post 1.66 EPS for the current year.

Insider Activity at Simmons First National

In related news, Director Russell William Teubner bought 9,200 shares of the stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $18.62 per share, with a total value of $171,304.00. Following the completion of the acquisition, the director owned 53,220 shares of the company's stock, valued at $990,956.40. This trade represents a 20.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steenberg Christopher J. Van bought 13,500 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were bought at an average cost of $18.50 per share, with a total value of $249,750.00. Following the completion of the acquisition, the chief operating officer directly owned 13,500 shares of the company's stock, valued at approximately $249,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 100,755 shares of company stock valued at $1,865,332. 1.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Simmons First National

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. grew its holdings in Simmons First National by 7.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,737,214 shares of the bank's stock worth $70,858,000 after buying an additional 254,067 shares in the last quarter. Geode Capital Management LLC grew its holdings in Simmons First National by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,072,538 shares of the bank's stock worth $58,261,000 after buying an additional 9,956 shares in the last quarter. Invesco Ltd. grew its holdings in Simmons First National by 14.0% in the 2nd quarter. Invesco Ltd. now owns 1,731,794 shares of the bank's stock worth $32,835,000 after buying an additional 212,988 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Simmons First National by 1,179.6% in the 1st quarter. MetLife Investment Management LLC now owns 969,027 shares of the bank's stock worth $19,894,000 after buying an additional 893,298 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Simmons First National by 41.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 922,284 shares of the bank's stock worth $17,487,000 after buying an additional 271,257 shares in the last quarter. 27.58% of the stock is owned by institutional investors.

Simmons First National Company Profile

Simmons First National Corporation operates as the holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses. The company offers checking, savings, and time deposits; consumer, real estate, and commercial loans; agricultural finance, equipment, and small business administration lending; trust and fiduciary services; credit cards; investment management products; treasury management; insurance products; and securities and investment services.

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