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 presently has a $66.00 price objective on the bank’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.92% from the company’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. “
SFNC has been the subject of several other reports. Sandler O’Neill set a $63.00 target price on shares of Simmons First National and gave the company a “hold” rating in a report on Thursday, January 4th. BidaskClub upgraded shares of Simmons First National from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $60.00 price target on shares of Simmons First National in a research report on Thursday, October 5th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $62.80.
Simmons First National (NASDAQ SFNC) opened at $59.50 on Friday. Simmons First National has a 1-year low of $49.75 and a 1-year high of $61.95. The stock has a market cap of $2,740.00, a P/E ratio of 18.83 and a beta of 1.14. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.47.
In other Simmons First National news, EVP Barry K. Ledbetter sold 1,900 shares of Simmons First National stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $57.37, for a total value of $109,003.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Russell William Teubner sold 4,334 shares of Simmons First National stock in a transaction that occurred on 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 sale, the director now directly owns 705 shares of the company’s stock, valued at approximately $39,261.45. The disclosure for this sale can be found here. Insiders have sold 349,122 shares of company stock valued at $19,827,028 in the last three months. 4.63% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of SFNC. Rowland & Co. Investment Counsel ADV bought a new stake in Simmons First National in the 4th quarter worth approximately $107,000. Riverhead Capital Management LLC grew its position in Simmons First National by 63.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the bank’s stock worth $113,000 after purchasing an additional 831 shares during the period. Victory Capital Management Inc. grew its position in Simmons First National by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,182 shares of the bank’s stock worth $168,000 after purchasing an additional 476 shares during the period. Amalgamated Bank grew its position in Simmons First National by 3.8% in the 2nd quarter. Amalgamated Bank now owns 4,122 shares of the bank’s stock worth $218,000 after purchasing an additional 151 shares during the period. Finally, Ifrah Financial Services Inc. bought a new stake in Simmons First National in the 3rd quarter worth approximately $246,000. 51.33% of the stock is owned by institutional investors and hedge funds.
About Simmons First National
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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