Analysts at Zacks Investment Research upgraded shares of Simmons First National Corp. (NASDAQ: SFNC) from Strong Sell to Hold today. The company currently has a rating of Hold on the shares. A number of other analysts have commented on the company in recent days, and the company has secured a consensus one-year price target of $50.25, above the opening price of $49.21, a difference of 10.18 percent. Simmons First National Corp. stock has a 52-week high of $58.75. Usually, after analysts assign an upgrade report on a stock, they will subsequently issue other updates, often followed by a price target change.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Simmons First National Corp. (NASDAQ: SFNC) opened at $49.21 yesterday trading between $49.01 and $49.71, and last traded at $49.35, which represents an increase of $0.35 over the previous closing price.
Simmons First National Corp. (NASDAQ: SFNC) now has a market cap of 1.50B.
82,206 shares crossed the trading desk yesterday, higher than normal, out of a total float 27,970,000. Large expansions in trading volume and price inflation together could signal excessive volume accumulation by institutional investors.
However, just a day of high volume buy side trading is not enough to affirm a trend. As such, market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Simmons First National Corp. (NASDAQ: SFNC) have ranged from $38.30 – 58.75, and the stock now has a 50-day MA of $48.50 and 200-day MA of $46.54. Today’s last price is 0.16% under the 52 week high of $58.75.
Earnings growth is a critical factor to research when investing in stocks and investors seek companies that have raised their earnings by at least 25% over the past 3 years.
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