Simmons First rises after KBW upgrades stock
BUZZ-Simmons First rises after KBW upgrades stock ** Regional lender Simmons First National's SFNC.O shares rise 2.5% to $23.49 premarket
** KBW upgrades SFNC to "outperform" from "market perform"; sets $26 PT, implying 13% upside to last close
** Brokerage says last week's cost-cut moves open the door for further stock upside
** Adds the reinvestment potential paves way for revenue and growth initiatives that will serve as forward catalysts
** "The expense announcement is a positive on its own, but doesn't tell the whole story as we believe the reinvested expenses firmly put SFNC on the offensive" - KBW
** 5 of 7 brokerages rate the stock "buy" or higher, 1 "hold" and 1 "sell"; median PT $26 - data compiled by LSEG
** As of last close, SFNC shares up 21.6% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
Recent news on Simmons First National
See all newsSimmons First National Corporation reports results for the quarter ended September 30 - Earnings Summary
Simmons First National Q3 adjusted EPS beats estimates on lower expenses, margin expansion
Brief: Simmons First National Q3 Adjusted EPS USD 0.54 Vs. IBES Estimate USD 0.53
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