SmartFinancial (NASDAQ:SMBK) Rating Reiterated by Stephens

SmartFinancial (NASDAQ:SMBK)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a report released on Tuesday, Benzinga reports. They presently have a $27.00 target price on the bank’s stock. Stephens’ price objective points to a potential downside of 2.21% from the company’s current price.

Several other brokerages also recently commented on SMBK. Piper Sandler raised SmartFinancial from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $25.00 to $26.00 in a research report on Wednesday, April 24th. Hovde Group cut their price target on shares of SmartFinancial from $26.00 to $23.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of SmartFinancial from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, SmartFinancial presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

SmartFinancial Price Performance

SmartFinancial stock opened at $27.61 on Tuesday. SmartFinancial has a 12-month low of $19.00 and a 12-month high of $28.51. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $23.56 and a 200-day moving average price of $22.29. The firm has a market capitalization of $471.03 million, a PE ratio of 17.70 and a beta of 0.71.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. SmartFinancial had a net margin of 9.93% and a return on equity of 6.60%. The business had revenue of $68.89 million during the quarter, compared to the consensus estimate of $40.32 million. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, equities research analysts forecast that SmartFinancial will post 1.85 EPS for the current year.

Insider Activity at SmartFinancial

In other SmartFinancial news, Director John M. Presley sold 7,500 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $22.65, for a total transaction of $169,875.00. Following the transaction, the director now directly owns 35,073 shares in the company, valued at approximately $794,403.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.68% of the stock is currently owned by corporate insiders.

Institutional Trading of SmartFinancial

A number of hedge funds have recently bought and sold shares of SMBK. Foundry Partners LLC increased its holdings in shares of SmartFinancial by 41.7% in the 1st quarter. Foundry Partners LLC now owns 150,870 shares of the bank’s stock valued at $3,179,000 after acquiring an additional 44,407 shares during the period. BNP Paribas Financial Markets lifted 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 valued at $499,000 after buying an additional 19,210 shares during the last quarter. SlateStone Wealth LLC boosted its holdings in shares of SmartFinancial by 54.2% in the 4th quarter. SlateStone Wealth LLC now owns 33,427 shares of the bank’s stock valued at $819,000 after buying an additional 11,750 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of SmartFinancial by 48.6% in the 4th quarter. Russell Investments Group Ltd. now owns 105,382 shares of the bank’s stock valued at $2,581,000 after buying an additional 34,488 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of SmartFinancial by 19.8% during the 4th quarter. SG Americas Securities LLC now owns 8,916 shares of the bank’s stock worth $218,000 after acquiring an additional 1,474 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

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.