SmartFinancial (NASDAQ:SMBK) Posts Earnings Results, Beats Estimates By $0.05 EPS

SmartFinancial (NASDAQ:SMBK) announced its quarterly earnings data on Monday. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05, Yahoo Finance reports. The company had revenue of $73.10 million for the quarter, compared to the consensus estimate of $42.32 million. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. During the same period in the previous year, the business earned $0.43 EPS.

SmartFinancial Stock Performance

Shares of SmartFinancial stock opened at $31.04 on Wednesday. The company has a market cap of $529.64 million, a PE ratio of 19.90 and a beta of 0.69. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $28.97 and a 200-day moving average price of $25.32. SmartFinancial has a 52 week low of $19.00 and a 52 week high of $31.54.

SmartFinancial Dividend Announcement

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

Analyst Upgrades and Downgrades

SMBK has been the topic of a number of recent analyst reports. Stephens reissued an “overweight” rating and issued a $27.00 price objective on shares of SmartFinancial in a research note on Tuesday, July 23rd. Piper Sandler downgraded SmartFinancial from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $26.00 to $28.00 in a research note on Wednesday, July 24th. Finally, Hovde Group upped their price target on SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.90.

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.