Simmons First National (SFNC) PT Lowered to $25 at Stephens

Stephens analyst Matt Olney lowered the price target on Simmons First National (NASDAQ: SFNC) to $25.00 (from $27.00) while maintaining a Overweight rating.

The analyst commented: "SFNC's 1Q25 results were slowed by elevated LLP expense that drove EPS miss relative to consensus forecast. Excluding this item, 1Q25 PPNR was above forecast as loan yields and deposit cost each outperformed expectations. The FY2025 guidance was unchanged, and we believe management's assumptions remain conservative with respect to NII and potential loan growth and operating expenses. We expect the stock to remain in the penalty box in the near-term but expect improving sentiment in 2H25 with credit stabilization along with management's guidance potentially improving. We continue to believe SFNC is in the early stages of multi-year runway of double digit PPNR growth. While not in our forecast, we think a more favorable environment would allow the bank to potentially pull-forward profitability via balance sheet restructuring. Our $25 Price Target (was $27) represents 14x our 2026 EPS forecast and 1.4x our 12-months TBVPS forecast. Our rating is Overweight."

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