Simmons First National price target lowered to $18 from $20 at Stephens

Stephens lowered the firm’s price target on Simmons First National to $18 from $20 and keeps an Equal Weight rating on the shares. The company’s Q3 results were highlighted by improving cost controls and in-line fees, the analyst tells investors. NII headwinds, however, continue to slow PPNR results, and the firm’s updated forecast reflects incremental NII/NIM headwinds into early 2024, Stephens adds. To offset these headwinds, the company remains focused on cost controls and moderate loan growth is expected in Q4, the firm says.