SmartFinancial (SMBK) Projected to Post Quarterly Earnings on Tuesday

SmartFinancial (NASDAQ:SMBK) will likely be announcing its results after the market closes on Tuesday, January 20th. Analysts expect the company to announce earnings of $0.80 per share and revenue of $51.3870 million for the quarter.

SmartFinancial Price Performance

Shares of NASDAQ:SMBK opened at $37.85 on Tuesday. The company’s fifty day moving average is $37.03 and its two-hundred day moving average is $36.05. The company has a market cap of $644.42 million, a P/E ratio of 17.68 and a beta of 0.75. SmartFinancial has a 12-month low of $26.31 and a 12-month high of $40.08. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Monday, November 17th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. SmartFinancial’s payout ratio is presently 11.68%.

Analysts Set New Price Targets

SMBK has been the subject of a number of research reports. Piper Sandler raised their price objective on SmartFinancial from $37.00 to $39.50 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Hovde Group increased their price target on shares of SmartFinancial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods raised their price target on shares of SmartFinancial from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, November 4th. Finally, Zacks Research lowered shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $39.10.

Insider Activity at SmartFinancial

In related news, Director Steven B. Tucker sold 10,625 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $38.01, for a total value of $403,856.25. Following the transaction, the director owned 49,914 shares in the company, valued at approximately $1,897,231.14. This represents a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 7.62% of the company’s stock.

Institutional Trading of SmartFinancial

Several large investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd boosted its holdings in SmartFinancial by 76.9% in the second quarter. Qube Research & Technologies Ltd now owns 27,043 shares of the bank’s stock worth $914,000 after purchasing an additional 11,752 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of SmartFinancial in the second quarter worth about $548,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of SmartFinancial by 11.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 46,565 shares of the bank’s stock worth $1,573,000 after acquiring an additional 4,639 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of SmartFinancial by 263.2% during the 1st quarter. Jane Street Group LLC now owns 42,385 shares of the bank’s stock valued at $1,317,000 after acquiring an additional 30,715 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of SmartFinancial by 150.9% in the 1st quarter. AQR Capital Management LLC now owns 51,972 shares of the bank’s stock valued at $1,615,000 after acquiring an additional 31,255 shares in the last quarter. 58.78% of the stock is owned by institutional investors.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.