Simmons First National Corp. (SFNC) Upgraded to Buy by Zacks Investment Research
Simmons First National Corp. (NASDAQ:SFNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $58.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.75% 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. “
Separately, Stephens lowered shares of Simmons First National Corp. from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $52.00 to $50.00 in a research report on Friday, July 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Simmons First National Corp. presently has an average rating of “Hold” and an average target price of $52.75.
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Shares of Simmons First National Corp. (NASDAQ:SFNC) traded down 0.457% on Tuesday, hitting $51.205. 8,250 shares of the stock traded hands. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 16.944 and a beta of 1.05. The stock has a 50-day moving average price of $49.57 and a 200 day moving average price of $47.07. Simmons First National Corp. has a 12-month low of $38.30 and a 12-month high of $58.75.
Simmons First National Corp. (NASDAQ:SFNC) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Simmons First National Corp. had a net margin of 21.34% and a return on equity of 9.48%. On average, analysts anticipate that Simmons First National Corp. will post $3.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.96 annualized dividend and a yield of 1.87%. Simmons First National Corp.’s dividend payout ratio (DPR) is presently 31.79%.
A number of institutional investors have recently made changes to their positions in the stock. Simmons Bank bought a new position in shares of Simmons First National Corp. during the first quarter valued at approximately $85,115,000. BlackRock Fund Advisors increased its position in shares of Simmons First National Corp. by 2.2% in the second quarter. BlackRock Fund Advisors now owns 1,819,513 shares of the company’s stock valued at $84,034,000 after buying an additional 39,684 shares during the period. Vanguard Group Inc. increased its position in shares of Simmons First National Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 1,751,063 shares of the company’s stock valued at $80,874,000 after buying an additional 84,707 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Simmons First National Corp. by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,118,362 shares of the company’s stock valued at $51,650,000 after buying an additional 61,071 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Simmons First National Corp. by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 740,596 shares of the company’s stock valued at $33,379,000 after buying an additional 15,330 shares during the period. Institutional investors own 23.72% of the company’s stock.
About Simmons First National Corp.
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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