Morgan Stanley Lowers Simmons First National (NASDAQ:SFNC) Price Target to $21.00

Simmons First National (NASDAQ:SFNC) had its price objective dropped by analysts at Morgan Stanley from $23.00 to $21.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price target points to a potential upside of 8.21% from the company’s current price.

Other equities research analysts have also issued research reports about the company. DA Davidson boosted their price target on Simmons First National from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. National Bank Financial set a $21.00 target price on Simmons First National in a research report on Wednesday, January 21st. Wall Street Zen raised Simmons First National from a “sell” rating to a “hold” rating in a report on Monday, January 26th. Zacks Research downgraded Simmons First National from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Raymond James Financial upgraded shares of Simmons First National from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.14.

Simmons First National Price Performance

Shares of NASDAQ:SFNC traded up $0.45 on Tuesday, reaching $19.41. 803,006 shares of the company were exchanged, compared to its average volume of 1,231,060. The company has a 50-day moving average of $20.19 and a 200-day moving average of $19.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -7.01 and a beta of 0.91. Simmons First National has a 1-year low of $17.00 and a 1-year high of $22.17.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings data on Tuesday, January 20th. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. Simmons First National had a negative net margin of 27.83% and a positive return on equity of 6.73%. The firm had revenue of $249.00 million for the quarter, compared to the consensus estimate of $238.68 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. Equities analysts forecast that Simmons First National will post 1.66 earnings per share for the current fiscal year.

Simmons First National declared that its board has authorized a stock repurchase program on Tuesday, February 17th that authorizes the company to buyback $175.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 5.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SFNC. EverSource Wealth Advisors LLC boosted its stake 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 worth $32,000 after purchasing an additional 1,104 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Simmons First National by 35.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank’s stock valued at $36,000 after buying an additional 495 shares during the period. Jones Financial Companies Lllp boosted its position in Simmons First National by 42.5% during the third quarter. Jones Financial Companies Lllp now owns 2,175 shares of the bank’s stock worth $43,000 after acquiring an additional 649 shares during the last quarter. Osaic Holdings Inc. grew its stake in Simmons First National by 32.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock worth $50,000 after acquiring an additional 644 shares during the period. Finally, Systematic Financial Management LP purchased a new stake in Simmons First National in the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 27.58% of the company’s stock.

Simmons First National Company Profile

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.