Analysts Set SmartFinancial, Inc. (NASDAQ:SMBK) PT at $38.50

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $38.70.

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on SmartFinancial from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Zacks Research lowered SmartFinancial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Piper Sandler upped their price objective on SmartFinancial from $37.00 to $39.50 and gave the company a “neutral” rating in a research note on Monday. Raymond James Financial reiterated a “strong-buy” rating and set a $44.00 target price (up previously from $42.00) on shares of SmartFinancial in a research note on Thursday, July 24th. Finally, Hovde Group increased their price target on SmartFinancial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd.

SmartFinancial Trading Down 2.3%

SMBK stock opened at $34.57 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial has a twelve month low of $26.31 and a twelve month high of $37.92. The business has a fifty day moving average of $35.98 and a 200-day moving average of $33.88. The company has a market cap of $588.42 million, a P/E ratio of 16.16 and a beta of 0.80.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tripletail Wealth Management LLC purchased a new position in shares of SmartFinancial in the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC raised its holdings in SmartFinancial by 46.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after acquiring an additional 472 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in SmartFinancial during the 1st quarter valued at $61,000. Tower Research Capital LLC TRC raised its holdings in SmartFinancial by 173.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock valued at $64,000 after acquiring an additional 1,202 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of SmartFinancial by 24.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,243 shares of the bank’s stock worth $76,000 after purchasing an additional 438 shares during the period. 58.78% of the stock is owned by institutional investors.

About SmartFinancial

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.