Simmons First National (NASDAQ:SFNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm currently has a $66.00 price target on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.92% from the stock’s current price.
According to Zacks, “SIMMONS FIRST NATIONAL CORP bank holding company registered under the Bank Holding Act of 1956. Through its subsidiaries, Co. provides a full range of banking and mortgage services to individual and corporate customers. “
Several other equities analysts have also commented on the stock. Piper Jaffray Companies set a $60.00 price target on shares of Simmons First National and gave the stock a “hold” rating in a research report on Thursday, November 16th. Sandler O’Neill restated a “hold” rating and issued a $62.00 target price on shares of Simmons First National in a research note on Tuesday, October 24th. Finally, BidaskClub upgraded shares of Simmons First National from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Simmons First National currently has an average rating of “Hold” and a consensus price target of $62.80.
Shares of Simmons First National (NASDAQ SFNC) opened at $59.50 on Friday. The company has a market cap of $2,735.22, a PE ratio of 18.83 and a beta of 1.15. Simmons First National has a fifty-two week low of $49.75 and a fifty-two week high of $61.95. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.47.
Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Sunday, October 22nd. The bank reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). Simmons First National had a net margin of 21.58% and a return on equity of 8.79%. analysts forecast that Simmons First National will post 3.31 EPS for the current year.
In related news, insider Vernon Wilson Jr. Bryant sold 22,888 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $54.87, for a total value of $1,255,864.56. Following the sale, the insider now owns 211,353 shares of the company’s stock, valued at approximately $11,596,939.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher R. Kirkland sold 160,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $57.11, for a total transaction of $9,137,600.00. Following the completion of the sale, the director now directly owns 76,949 shares in the company, valued at approximately $4,394,557.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 349,122 shares of company stock worth $19,827,028. Insiders own 4.63% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SFNC. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Simmons First National in the 3rd quarter worth about $21,454,000. Dimensional Fund Advisors LP increased its stake in Simmons First National by 11.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,462,079 shares of the bank’s stock valued at $77,346,000 after buying an additional 155,118 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Simmons First National by 28.3% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 616,809 shares of the bank’s stock valued at $35,713,000 after buying an additional 135,871 shares during the period. Voya Investment Management LLC increased its stake in Simmons First National by 21.9% during the 2nd quarter. Voya Investment Management LLC now owns 403,015 shares of the bank’s stock valued at $21,320,000 after buying an additional 72,530 shares during the period. Finally, Maltese Capital Management LLC acquired a new position in Simmons First National during the 3rd quarter valued at about $3,642,000. 51.33% of the stock is currently owned by institutional investors and hedge funds.
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Simmons First National Company Profile
Simmons First National Corporation is a financial holding company. The Company, through its subsidiary bank, Simmons Bank, provides financial services to individuals and businesses throughout the market areas they serve. As of December 31, 2016, Simmons Bank conducted banking operations through 150 financial centers located in communities throughout Arkansas, Kansas, Missouri, Tennessee, Colorado, Oklahoma and Texas.
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