Zacks: Analysts Anticipate SmartFinancial, Inc. (NASDAQ:SMBK) Will Post Quarterly Sales of $40.00 Million

Analysts expect SmartFinancial, Inc. (NASDAQ:SMBKGet Rating) to report sales of $40.00 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for SmartFinancial’s earnings, with estimates ranging from $38.48 million to $41.70 million. SmartFinancial reported sales of $32.04 million in the same quarter last year, which indicates a positive year over year growth rate of 24.8%. The company is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that SmartFinancial will report full-year sales of $161.00 million for the current year, with estimates ranging from $156.19 million to $166.90 million. For the next financial year, analysts expect that the firm will report sales of $180.26 million, with estimates ranging from $172.90 million to $190.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow SmartFinancial.

SmartFinancial (NASDAQ:SMBKGet Rating) last announced its quarterly earnings data on Monday, April 25th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). SmartFinancial had a return on equity of 8.86% and a net margin of 21.59%. During the same period last year, the company earned $0.65 EPS.

SMBK has been the subject of a number of research reports. Zacks Investment Research upgraded SmartFinancial from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Saturday, April 30th. StockNews.com assumed coverage on SmartFinancial in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Raymond James upped their price objective on SmartFinancial from $30.00 to $33.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 26th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $30.67.

SMBK stock opened at $25.00 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 0.93. SmartFinancial has a fifty-two week low of $22.63 and a fifty-two week high of $28.63. The stock’s 50 day simple moving average is $25.36. The stock has a market capitalization of $422.33 million, a PE ratio of 12.02 and a beta of 0.70.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Friday, May 13th will be given a $0.07 dividend. The ex-dividend date is Thursday, May 12th. This represents a $0.28 annualized dividend and a dividend yield of 1.12%. SmartFinancial’s payout ratio is 13.46%.

Several hedge funds and other institutional investors have recently made changes to their positions in SMBK. Morgan Stanley raised its stake in SmartFinancial by 6.3% during the 2nd quarter. Morgan Stanley now owns 28,817 shares of the bank’s stock valued at $691,000 after acquiring an additional 1,714 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of SmartFinancial during the 3rd quarter valued at $243,000. Raymond James & Associates acquired a new position in shares of SmartFinancial in the 3rd quarter worth $309,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of SmartFinancial in the 3rd quarter worth $223,000. Finally, Moors & Cabot Inc. acquired a new position in shares of SmartFinancial in the 3rd quarter worth $25,000. 49.11% of the stock is currently owned by institutional investors and hedge funds.

About SmartFinancial (Get Rating)

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

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