SmartFinancial, Inc. (NASDAQ:SMBK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

SmartFinancial, Inc. (NASDAQ:SMBKGet Free Report) has earned an average rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $25.60.

A number of equities analysts recently commented on SMBK shares. Keefe, Bruyette & Woods dropped their price target on SmartFinancial from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Hovde Group dropped their price target on SmartFinancial from $26.00 to $23.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Stephens increased their price target on SmartFinancial from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Piper Sandler raised SmartFinancial from a “neutral” rating to an “overweight” rating and increased their price target for the company from $25.00 to $26.00 in a research note on Wednesday, April 24th.

View Our Latest Research Report on SMBK

SmartFinancial Stock Performance

Shares of SMBK opened at $23.14 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $22.51 and a two-hundred day simple moving average of $22.13. The stock has a market cap of $394.77 million, a price-to-earnings ratio of 14.83 and a beta of 0.71. SmartFinancial has a 52 week low of $19.00 and a 52 week high of $25.98.

SmartFinancial (NASDAQ:SMBKGet Free Report) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. The firm had revenue of $40.10 million during the quarter, compared to analyst estimates of $38.98 million. SmartFinancial had a return on equity of 6.88% and a net margin of 10.65%. On average, analysts expect that SmartFinancial will post 1.85 EPS for the current year.

SmartFinancial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.32 annualized dividend and a dividend yield of 1.38%. SmartFinancial’s payout ratio is 20.51%.

Insider Transactions at SmartFinancial

In other news, Director John M. Presley sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $22.65, for a total value of $169,875.00. Following the sale, the director now directly owns 35,073 shares in the company, valued at $794,403.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in SmartFinancial during the 1st quarter worth $271,000. Vanguard Group Inc. increased its holdings in SmartFinancial by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 789,233 shares of the bank’s stock worth $16,629,000 after purchasing an additional 19,490 shares during the period. Foundry Partners LLC increased its holdings in SmartFinancial by 41.7% during the 1st 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 during the period. Russell Investments Group Ltd. increased its holdings in SmartFinancial by 23.7% during the 1st 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 period. Finally, Empowered Funds LLC increased its holdings in SmartFinancial by 7.9% during the 1st quarter. Empowered Funds LLC now owns 59,437 shares of the bank’s stock worth $1,252,000 after purchasing an additional 4,375 shares during the period. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

About SmartFinancial

(Get Free Report

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.

Further Reading

Analyst Recommendations for SmartFinancial (NASDAQ:SMBK)

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