SmartFinancial, Inc. (NASDAQ:SMBK) Receives $27.00 Average PT from Analysts

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $27.00.

Several equities research analysts recently weighed in on SMBK shares. Hovde Group increased their price target on SmartFinancial from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Stephens reaffirmed an “overweight” rating and issued a $27.00 target price on shares of SmartFinancial in a report on Tuesday, July 23rd. Finally, Piper Sandler cut shares of SmartFinancial from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $26.00 to $28.00 in a report on Wednesday, July 24th.

Institutional Trading of SmartFinancial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in SmartFinancial by 429.0% in the first quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank’s stock valued at $499,000 after buying an additional 19,210 shares in the last quarter. Empowered Funds LLC increased its stake in SmartFinancial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 59,437 shares of the bank’s stock valued at $1,252,000 after purchasing an additional 4,375 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in SmartFinancial by 23.7% during the first quarter. Russell Investments Group Ltd. now owns 130,361 shares of the bank’s stock worth $2,747,000 after purchasing an additional 24,979 shares during the last quarter. Foundry Partners LLC boosted its position in SmartFinancial by 41.7% during the first quarter. Foundry Partners LLC now owns 150,870 shares of the bank’s stock worth $3,179,000 after purchasing an additional 44,407 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in SmartFinancial by 2.5% in the first quarter. Vanguard Group Inc. now owns 789,233 shares of the bank’s stock valued at $16,629,000 after purchasing an additional 19,490 shares during the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

SmartFinancial Price Performance

Shares of SMBK opened at $31.09 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90. SmartFinancial has a fifty-two week low of $19.00 and a fifty-two week high of $31.50. The firm has a 50-day simple moving average of $28.82 and a 200-day simple moving average of $25.18. The company has a market capitalization of $530.49 million, a price-to-earnings ratio of 19.93 and a beta of 0.69.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $68.89 million during the quarter, compared to analysts’ expectations of $40.32 million. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. During the same period last year, the firm earned $0.52 EPS. On average, equities research analysts anticipate that SmartFinancial will post 1.97 earnings per share for the current year.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. SmartFinancial’s dividend payout ratio (DPR) is presently 20.51%.

SmartFinancial Company Profile

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.