SmartFinancial (NASDAQ:SMBK) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

SmartFinancial (NASDAQ:SMBK) released its quarterly earnings results on Monday. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05, Yahoo Finance reports. SmartFinancial had a net margin of 9.93% and a return on equity of 6.60%. The firm had revenue of $68.89 million during the quarter, compared to the consensus estimate of $40.32 million. During the same quarter in the prior year, the firm earned $0.52 EPS.

SmartFinancial Stock Down 1.4 %

Shares of NASDAQ:SMBK opened at $27.61 on Thursday. The firm has a market capitalization of $471.03 million, a PE ratio of 15.65 and a beta of 0.71. SmartFinancial has a 1 year low of $19.00 and a 1 year high of $28.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50-day moving average is $23.56 and its two-hundred day moving average is $22.29.

Analysts Set New Price Targets

Several research firms recently commented on SMBK. Stephens reissued an “overweight” rating and issued a $27.00 price objective on shares of SmartFinancial in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price target on SmartFinancial from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Piper Sandler cut SmartFinancial from an “overweight” rating to a “neutral” rating and increased their price target for the company from $26.00 to $28.00 in a report on Wednesday. Finally, Hovde Group raised their target price on SmartFinancial from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SmartFinancial presently has an average rating of “Moderate Buy” and an average target price of $27.00.

Insider Activity

In related news, Director John M. Presley sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $22.65, for a total value of $169,875.00. Following the sale, the director now owns 35,073 shares of the company’s stock, valued at $794,403.45. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.68% 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.