Analysts Set Simmons First National Corporation (NASDAQ:SFNC) Price Target at $22.75

Key Points

• Simmons First National Corporation has received a consensus rating of "Moderate Buy" from five analysts, with an average 1-year target price of $22.75.
• The bank reported earnings of $0.44 per share, surpassing estimates and showing an 8.6% year-over-year revenue increase for the last quarter.
• Insider buying activity includes COO purchasing 13,500 shares at an average price of $18.50, indicating confidence in the company's future performance.

Shares of Simmons First National Corporation (NASDAQ:SFNC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.75.

Several research analysts have recently commented on SFNC shares. Keefe, Bruyette & Woods boosted their price objective on Simmons First National from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Wall Street Zen upgraded Simmons First National from a "sell" rating to a "hold" rating in a report on Friday, July 18th. DA Davidson upped their price target on shares of 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, Zacks Research raised Simmons First National from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th.

Insider Activity at Simmons First National

In other Simmons First National news, Director Steven A. Cosse purchased 13,500 shares of Simmons First National stock in a transaction dated Wednesday, July 23rd. The stock was purchased at an average price of $18.50 per share, with a total value of $249,750.00. Following the transaction, the director directly owned 104,120 shares of the company's stock, valued at $1,926,220. This trade represents a 14.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles Daniel Hobbs purchased 5,400 shares of Simmons First National stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average cost of $18.50 per share, with a total value of $99,900.00. Following the transaction, the chief financial officer directly owned 10,213 shares in the company, valued at approximately $188,940.50. The trade was a 112.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 100,755 shares of company stock valued at $1,865,332 over the last three months. 1.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Simmons First National

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of Simmons First National by 197.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank's stock valued at $32,000 after purchasing an additional 1,104 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Simmons First National during the 4th quarter valued at about $36,000. Quarry LP purchased a new position in shares of Simmons First National during the 4th quarter valued at about $47,000. GAMMA Investing LLC lifted its position in shares of Simmons First National by 35.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,426 shares of the bank's stock valued at $65,000 after buying an additional 892 shares in the last quarter. Finally, SouthState Corp purchased a new position in shares of Simmons First National during the 1st quarter valued at about $71,000. Hedge funds and other institutional investors own 27.58% of the company's stock.

Simmons First National Price Performance

Shares of NASDAQ SFNC traded down $0.27 during midday trading on Wednesday, hitting $20.59. 762,365 shares of the company's stock were exchanged, compared to its average volume of 855,064. 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 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 16.21 and a beta of 0.95. The business's fifty day moving average price is $19.49 and its two-hundred day moving average price is $19.70.

Simmons First National (NASDAQ:SFNC - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04. Simmons First National had a return on equity of 5.23% and a net margin of 11.19%.The company had revenue of $214.18 million during the quarter, compared to analyst estimates of $217.21 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Simmons First National's revenue was up 8.6% on a year-over-year basis. As a group, research analysts forecast that Simmons First National will post 1.66 EPS for the current fiscal year.

About Simmons First National

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.