SmartFinancial, Inc. (NASDAQ:SMBK) Given Average Rating of “Moderate Buy” by Brokerages

SmartFinancial, Inc. (NASDAQ:SMBK) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $27.00.

Several equities analysts recently weighed in on SMBK shares. Stephens restated an “overweight” rating and issued a $27.00 price objective on shares of SmartFinancial in a report on Tuesday, July 23rd. Hovde Group increased their price objective on shares of SmartFinancial from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Finally, Piper Sandler lowered shares of SmartFinancial from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $26.00 to $28.00 in a report on Wednesday, July 24th.

Institutional Investors Weigh In On SmartFinancial

Several large investors have recently bought and sold shares of SMBK. SG Americas Securities LLC bought a new stake in SmartFinancial in the third quarter valued at approximately $161,000. Acadian Asset Management LLC bought a new stake in shares of SmartFinancial during the first quarter worth $271,000. Creative Planning bought a new stake in shares of SmartFinancial during the third quarter worth $394,000. Inspire Investing LLC bought a new stake in shares of SmartFinancial during the third quarter worth $415,000. Finally, BNP Paribas Financial Markets increased its position in shares of SmartFinancial by 429.0% during the first quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank’s stock worth $499,000 after acquiring an additional 19,210 shares in the last quarter. Institutional investors own 58.78% of the company’s stock.

SmartFinancial Trading Up 3.0 %

Shares of NASDAQ SMBK opened at $31.04 on Wednesday. The company’s 50 day simple moving average is $28.97 and its 200 day simple moving average is $25.32. SmartFinancial has a fifty-two week low of $19.00 and a fifty-two week high of $31.54. The firm has a market capitalization of $529.64 million, a P/E ratio of 19.90 and a beta of 0.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. SmartFinancial had a net margin of 9.93% and a return on equity of 6.55%. The business had revenue of $73.10 million for the quarter, compared to analyst estimates of $42.32 million. During the same period in the prior year, the business posted $0.43 earnings per share. On average, analysts predict that SmartFinancial will post 1.97 EPS for the current year.

SmartFinancial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, August 9th. SmartFinancial’s payout ratio is presently 20.51%.

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.