SmartFinancial (SMBK) Expected to Post Quarterly Earnings on Monday

SmartFinancial (NASDAQ:SMBK) is anticipated to release its results after the market closes on Monday, July 20th. Analysts expect SmartFinancial to post earnings of $0.90 per share and revenue of $55.7440 million for the quarter.

SmartFinancial Trading Down 1.3%

SmartFinancial stock opened at $48.01 on Friday. The firm has a market cap of $820.79 million, a price-to-earnings ratio of 22.43 and a beta of 0.70. SmartFinancial has a 1 year low of $32.63 and a 1 year high of $49.06. The firm’s 50 day moving average price is $44.13 and its two-hundred day moving average price is $41.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90.

SmartFinancial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. This is a boost from SmartFinancial’s previous quarterly dividend of $0.08. SmartFinancial’s dividend payout ratio is 11.54%.

Insider Buying and Selling at SmartFinancial

In other SmartFinancial news, Director Victor Lynn Barrett acquired 3,000 shares of SmartFinancial stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average cost of $43.78 per share, with a total value of $131,340.00. Following the purchase, the director owned 151,724 shares in the company, valued at approximately $6,642,476.72. The trade was a 2.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cathy G. Ackermann acquired 3,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $42.12 per share, with a total value of $126,360.00. Following the completion of the transaction, the director directly owned 19,831 shares in the company, valued at approximately $835,281.72. This trade represents a 17.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 6,290 shares of company stock worth $269,677 over the last three months. 6.93% of the stock is owned by insiders.

Institutional Trading of SmartFinancial

Several institutional investors have recently made changes to their positions in SMBK. Kemnay Advisory Services Inc. acquired a new position in SmartFinancial in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of 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 buying an additional 472 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of 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 buying an additional 1,202 shares during the period. Lazard Asset Management LLC purchased a new position in shares of SmartFinancial during the 2nd quarter valued at $128,000. Finally, Virtus Advisers LLC purchased a new position in shares of SmartFinancial during the 3rd quarter valued at $149,000. 58.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SMBK has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. Benchmark initiated coverage on SmartFinancial in a report on Wednesday, June 24th. They set a “buy” rating and a $54.00 target price for the company. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $50.00 price target on shares of SmartFinancial in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, SmartFinancial presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

About SmartFinancial

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.