Simmons First National (NASDAQ:SFNC) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Simmons First National has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, signaling increased confidence in the company's stock performance.
• Recent quarterly earnings exceeded expectations with an earnings per share (EPS) of $0.44, beating the consensus estimate of $0.40, and showcasing a revenue increase of 8.6% year-over-year.
• Insiders have made significant stock purchases recently, with one director acquiring 13,500 shares and the CFO purchasing 5,400 shares, indicating strong internal confidence in the company’s future prospects.

Simmons First National (NASDAQ:SFNC - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on SFNC. Keefe, Bruyette & Woods increased their target price on shares of Simmons First National from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. DA Davidson raised their price objective on shares of Simmons First National from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Simmons First National from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Stephens dropped their price objective on shares of Simmons First National from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Piper Sandler upgraded shares of Simmons First National from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $20.00 to $21.00 in a report on Monday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

Simmons First National Price Performance

SFNC opened at $19.8750 on Monday. Simmons First National has a one year low of $17.20 and a one year high of $25.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.80 and a quick ratio of 0.80. The company's 50 day simple moving average is $19.40 and its 200-day simple moving average is $19.78. The stock has a market capitalization of $2.88 billion, a P/E ratio of 15.61 and a beta of 0.95.

Simmons First National (NASDAQ:SFNC - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. Simmons First National had a net margin of 11.19% and a return on equity of 5.23%. The business had revenue of $214.18 million for the quarter, compared to analysts' expectations of $217.21 million. During the same period in the prior year, the firm earned $0.33 earnings per share. Simmons First National's revenue was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Simmons First National will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Simmons First National

In other Simmons First National news, Director Steven A. Cosse acquired 13,500 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was acquired at an average price of $18.50 per share, for a total transaction of $249,750.00. Following the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles Daniel Hobbs acquired 5,400 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was acquired at an average price of $18.50 per share, with a total value of $99,900.00. Following the purchase, the chief financial officer directly owned 10,213 shares in the company, valued at approximately $188,940.50. This represents a 112.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 100,755 shares of company stock worth $1,865,332 in the last ninety days. Insiders own 1.91% of the company's stock.

Hedge Funds Weigh In On Simmons First National

Hedge funds and other institutional investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. grew its holdings in shares of Simmons First National by 119.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 3,483,147 shares of the bank's stock valued at $71,509,000 after purchasing an additional 1,899,407 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Simmons First National by 1,179.6% during the 1st quarter. MetLife Investment Management LLC now owns 969,027 shares of the bank's stock valued at $19,894,000 after purchasing an additional 893,298 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Simmons First National by 140.6% during the 1st quarter. Invesco Ltd. now owns 1,518,806 shares of the bank's stock valued at $31,181,000 after purchasing an additional 887,603 shares during the last quarter. Rhino Investment Partners Inc bought a new stake in shares of Simmons First National during the 4th quarter valued at approximately $19,531,000. Finally, Nuveen LLC bought a new stake in shares of Simmons First National during the 1st quarter valued at approximately $6,065,000. 27.58% of the stock is currently owned by institutional investors and hedge funds.

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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