Piper Sandler has raised its rating for Simmons First National (SFNC, Financial) to Neutral from Underweight, enhancing the price target to $21, up from the previous $20, following the company's first-quarter performance. This change is fueled by promising insights shared by the company regarding several key factors.
The analyst highlighted encouraging developments concerning SFNC's loan growth trends and the expansion pace of its net interest margin. Moreover, effective deposit cost savings and strong expense management are contributing positively to the company's outlook, surpassing earlier predictions.
As the fiscal year progresses, Piper Sandler points to stronger metrics anticipated in the latter half of the year. Additionally, the current rate environment is expected to provide further support, prompting the firm's decision to upgrade the stock rating. This improved perspective reflects growing confidence in Simmons First National's strategic execution and financial trajectory.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Simmons First National Corp (SFNC, Financial) is $23.40 with a high estimate of $27.00 and a low estimate of $20.00. The average target implies an upside of 34.56% from the current price of $17.39. More detailed estimate data can be found on the Simmons First National Corp (SFNC) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, Simmons First National Corp's (SFNC, Financial) average brokerage recommendation is currently 2.8, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Simmons First National Corp (SFNC, Financial) in one year is $21.94, suggesting a upside of 26.16% from the current price of $17.39. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Simmons First National Corp (SFNC) Summary page.
