Piper Jaffray Companies Analysts Give Simmons First National Corporation (SFNC) a $60.00 Price Target
Piper Jaffray Companies set a $60.00 target price on Simmons First National Corporation (NASDAQ:SFNC) in a research report sent to investors on Thursday. The brokerage currently has a hold rating on the bank’s stock.
Several other research firms have also recently issued reports on SFNC. Sandler O’Neill reissued a hold rating and issued a $62.00 price target on shares of Simmons First National Corporation in a research note on Tuesday, October 24th. Zacks Investment Research cut Simmons First National Corporation from a buy rating to a sell rating in a research note on Friday, October 27th. Stephens raised Simmons First National Corporation from an equal weight rating to a buy rating and increased their price target for the stock from $60.00 to $64.00 in a research note on Friday, July 21st. Finally, BidaskClub cut Simmons First National Corporation from a hold rating to a sell rating in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Simmons First National Corporation has a consensus rating of Hold and an average price target of $62.40.
Shares of Simmons First National Corporation (NASDAQ:SFNC) traded down $0.15 during midday trading on Thursday, reaching $55.00. The company’s stock had a trading volume of 340,581 shares, compared to its average volume of 237,815. Simmons First National Corporation has a 1 year low of $49.75 and a 1 year high of $67.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $2,528.35, a price-to-earnings ratio of 16.57 and a beta of 1.16.
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In related news, Director Russell William Teubner sold 4,334 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $55.69, for a total transaction of $241,360.46. Following the completion of the transaction, the director now owns 705 shares of the company’s stock, valued at $39,261.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Barry K. Ledbetter sold 1,900 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $57.37, for a total value of $109,003.00. The disclosure for this sale can be found here. In the last three months, insiders sold 179,289 shares of company stock valued at $9,889,418. Company insiders own 4.63% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC boosted its stake in Simmons First National Corporation by 63.9% during the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the bank’s stock valued at $113,000 after buying an additional 831 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Simmons First National Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,182 shares of the bank’s stock valued at $168,000 after buying an additional 476 shares in the last quarter. Amalgamated Bank boosted its stake in Simmons First National Corporation by 3.8% during the second quarter. Amalgamated Bank now owns 4,122 shares of the bank’s stock valued at $218,000 after buying an additional 151 shares in the last quarter. Aperio Group LLC bought a new position in Simmons First National Corporation during the second quarter valued at about $234,000. Finally, Ifrah Financial Services Inc. bought a new position in Simmons First National Corporation during the third quarter valued at about $246,000. 51.33% of the stock is owned by institutional investors and hedge funds.
About Simmons First National Corporation
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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