SmartFinancial (NASDAQ:SMBK) Upgraded to “Buy” at StockNews.com

SmartFinancial (NASDAQ:SMBKGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of SmartFinancial from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Saturday, April 30th. Raymond James boosted their target price on shares of SmartFinancial from $30.00 to $33.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 26th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, SmartFinancial currently has a consensus rating of “Buy” and an average target price of $30.67.

Shares of SmartFinancial stock opened at $24.63 on Thursday. The firm’s 50 day moving average price is $25.28 and its 200-day moving average price is $26.22. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.30. SmartFinancial has a 52-week low of $22.63 and a 52-week high of $28.63. The company has a market cap of $416.07 million, a P/E ratio of 11.84 and a beta of 0.70.

SmartFinancial (NASDAQ:SMBKGet Rating) last issued its quarterly earnings data on Monday, April 25th. The bank reported $0.49 earnings per share (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 quarter in the previous year, the company posted $0.65 earnings per share. As a group, equities research analysts forecast that SmartFinancial will post 2.43 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in SMBK. BlackRock Inc. lifted its stake in SmartFinancial by 13.5% during the 4th quarter. BlackRock Inc. now owns 1,177,092 shares of the bank’s stock valued at $32,206,000 after acquiring an additional 139,990 shares during the period. Wellington Management Group LLP lifted its stake in SmartFinancial by 26.1% during the 3rd quarter. Wellington Management Group LLP now owns 234,380 shares of the bank’s stock valued at $6,059,000 after acquiring an additional 48,582 shares during the period. Private Capital Management LLC lifted its stake in SmartFinancial by 8.3% during the 4th quarter. Private Capital Management LLC now owns 570,113 shares of the bank’s stock valued at $15,598,000 after acquiring an additional 43,800 shares during the period. Lbmc Investment Advisors LLC lifted its stake in SmartFinancial by 178.1% during the 4th quarter. Lbmc Investment Advisors LLC now owns 44,298 shares of the bank’s stock valued at $1,212,000 after acquiring an additional 28,371 shares during the period. Finally, Salzhauer Michael lifted its stake in SmartFinancial by 25.2% during the 4th quarter. Salzhauer Michael now owns 138,613 shares of the bank’s stock valued at $3,792,000 after acquiring an additional 27,897 shares during the period. Institutional investors and hedge funds own 49.11% of the company’s stock.

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.

Read More

Receive News & Ratings for SmartFinancial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SmartFinancial and related companies with MarketBeat.com's FREE daily email newsletter.