Simmons First upgraded by Piper Sandler after unveiling branch closures
BUZZ-Simmons First upgraded by Piper Sandler after unveiling branch closures ** Piper Sandler upgrades regional lender Simmons First National SFNC.O to "overweight" from "neutral"; raises PT to $27.50, implying a 19.7% upside to last close
** SFNC late Thursday unveiled move to close 26 branches across six states as it looks to simplify its business and cut costs
** Management had previously indicated there is more runway to further improve efficiency
** "We had been becoming increasingly more positive on the story over the past two quarters, but had not yet found the right time to be more constructive with our rating," says Piper Sandler analyst Stephen Scouten
** Stock up 0.3% at $23.05 premarket
** Four of 7 brokerages rate the stock "buy" or higher and 3 "hold"; median PT $26 - LSEG data
** As of last close, shares up 21.9% 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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