SmartFinancial (NASDAQ:SMBK) Rating Reiterated by Stephens

SmartFinancial (NASDAQ:SMBK)‘s stock had its “overweight” rating reiterated by stock analysts at Stephens in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $26.00 price objective on the bank’s stock. Stephens’ price objective would indicate a potential upside of 28.97% from the stock’s current price.

SMBK has been the subject of a number of other reports. Keefe, Bruyette & Woods raised their target price on shares of SmartFinancial from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. StockNews.com raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Raymond James upped their price target on shares of SmartFinancial from $24.00 to $28.00 and gave the company a “strong-buy” rating in a report on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.25.

SmartFinancial Stock Up 2.5 %

Shares of SmartFinancial stock traded up $0.50 during trading on Tuesday, reaching $20.16. The company had a trading volume of 10,799 shares, compared to its average volume of 31,970. The company has a market cap of $343.93 million, a price-to-earnings ratio of 11.93 and a beta of 0.69. The firm’s fifty day moving average is $20.85 and its 200-day moving average is $21.94. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 0.88. SmartFinancial has a fifty-two week low of $18.86 and a fifty-two week high of $25.98.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $65.07 million during the quarter, compared to analyst estimates of $39.14 million. SmartFinancial had a net margin of 11.90% and a return on equity of 7.67%. During the same quarter in the previous year, the business posted $0.76 EPS. On average, analysts anticipate that SmartFinancial will post 1.91 EPS for the current year.

Insider Activity

In other news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.63, for a total value of $51,782.22. Following the transaction, the executive vice president now directly owns 19,091 shares of the company’s stock, valued at $412,938.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On SmartFinancial

Several institutional investors and hedge funds have recently modified their holdings of SMBK. SG Americas Securities LLC acquired a new stake in SmartFinancial during the third quarter worth about $159,000. Bailard Inc. acquired a new stake in shares of SmartFinancial in the 3rd quarter valued at approximately $292,000. Panagora Asset Management Inc. acquired a new stake in shares of SmartFinancial in the 3rd quarter valued at approximately $758,000. New York State Common Retirement Fund raised its holdings in SmartFinancial by 68.0% during the 3rd quarter. New York State Common Retirement Fund now owns 7,430 shares of the bank’s stock worth $159,000 after purchasing an additional 3,008 shares during the last quarter. Finally, Swiss National Bank raised its holdings in SmartFinancial by 2.6% during the 3rd quarter. Swiss National Bank now owns 31,747 shares of the bank’s stock worth $678,000 after purchasing an additional 800 shares during the last quarter. 58.78% of the stock is currently owned by institutional investors and hedge funds.

SmartFinancial Company Profile

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.