DA Davidson Reiterates Buy Rating on Simmons First National (SFNC) Following Solid Q3 Results

DA Davidson analyst Gary Tenner reiterated a Buy rating on Simmons First National (NASDAQ: SFNC).

The analyst commented, "A solid quarter that was largely in line with our estimate on a pretax basis. Projected additional NIM expansion to 4.65% or better in 4Q compares to the existing 3.72% Street estimate, however, is 15bp or more above the third quarter result. While Q/Q loan growth was modest, it was stronger than 2Q, as loan production of $2.1B compared to $2.2B last quarter, with lower payoff activity, a net positive. Credit quality metrics were stable Q/Q."

For an analyst ratings summary and ratings history on Simmons First National click here. For more ratings news on Simmons First National click here.

Shares of Simmons First National closed at $18.02 yesterday.

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