The Zacks Investment Research Upgrades Simmons First National Corp. (SFNC) to Buy

The Zacks Investment Research Upgrades Simmons First National Corp. (SFNC) to Buy

Simmons First National Corp. (NASDAQ:SFNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $58.00 price target on the stock. Zacks Investment Research’s target price indicates a potential upside of 13.97% from the company’s previous close.

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. “

Separately, Stephens lowered Simmons First National Corp. from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $52.00 to $50.00 in a report on Friday, July 22nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $52.75.

Simmons First National Corp. (NASDAQ:SFNC) opened at 50.89 on Tuesday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 16.84 and a beta of 1.05. Simmons First National Corp. has a 52-week low of $38.30 and a 52-week high of $58.75. The stock’s 50 day moving average price is $49.72 and its 200 day moving average price is $47.12.

Simmons First National Corp. (NASDAQ:SFNC) last released its earnings results on Wednesday, July 20th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Simmons First National Corp. had a return on equity of 9.48% and a net margin of 21.34%. On average, equities analysts anticipate that Simmons First National Corp. will post $3.18 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 15th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.89%. Simmons First National Corp.’s dividend payout ratio is currently 31.79%.

Hedge funds have recently made changes to their positions in the company. Kernodle & Katon Asset Management Group LLC increased its stake in shares of Simmons First National Corp. by 246.0% in the second quarter. Kernodle & Katon Asset Management Group LLC now owns 3,287 shares of the company’s stock valued at $152,000 after buying an additional 2,337 shares in the last quarter. PineBridge Investments L.P. increased its stake in shares of Simmons First National Corp. by 4.0% in the second quarter. PineBridge Investments L.P. now owns 3,626 shares of the company’s stock valued at $167,000 after buying an additional 138 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Simmons First National Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 3,992 shares of the company’s stock valued at $184,000 after buying an additional 488 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Simmons First National Corp. by 5.1% in the second quarter. Nisa Investment Advisors LLC now owns 4,100 shares of the company’s stock valued at $189,000 after buying an additional 200 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Simmons First National Corp. during the second quarter valued at $234,000. Institutional investors and hedge funds own 23.72% of the company’s stock.

Simmons First National Corp. Company Profile

Simmons First National Corporation is a financial holding company. The Company’s subsidiary bank is Simmons First National Bank (Simmons Bank), a national bank. Simmons Bank and its subsidiaries provide banking services to individuals and businesses across the market areas they serve. Simmons Bank offers consumer, real estate and commercial loans, checking, savings and time deposits.

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