SmartFinancial, Inc. (NASDAQ:SMBK) Receives $29.50 Average Price Target from Analysts

SmartFinancial, Inc. (NASDAQ:SMBK) has received an average rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $29.50.

A number of analysts have weighed in on SMBK shares. Hovde Group increased their price target on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a report on Wednesday, October 23rd. Stephens downgraded SmartFinancial from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Finally, Raymond James upped their price target on SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 23rd.

SmartFinancial Trading Up 1.7 %

SmartFinancial stock opened at $31.24 on Monday. The business’s 50-day simple moving average is $34.19 and its 200-day simple moving average is $29.88. SmartFinancial has a 52 week low of $19.00 and a 52 week high of $37.72. The firm has a market capitalization of $528.77 million, a PE ratio of 16.10 and a beta of 0.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90.

SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The company had revenue of $73.10 million during the quarter, compared to analyst estimates of $42.32 million. SmartFinancial had a return on equity of 6.81% and a net margin of 11.88%. During the same period in the previous year, the company earned $0.43 earnings per share. Equities research analysts forecast that SmartFinancial will post 2.02 earnings per share for the current year.

SmartFinancial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, November 12th. SmartFinancial’s payout ratio is 16.49%.

Insider Activity

In related news, Director John M. Presley sold 6,916 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $35.05, for a total value of $242,405.80. Following the sale, the director now owns 3,960 shares of the company’s stock, valued at $138,798. The trade was a 63.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 7,516 shares of company stock worth $262,600. Company insiders own 7.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in shares of SmartFinancial by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 24,147 shares of the bank’s stock valued at $572,000 after purchasing an additional 361 shares in the last quarter. Jane Street Group LLC raised its stake in shares of SmartFinancial by 6.9% in the third quarter. Jane Street Group LLC now owns 14,925 shares of the bank’s stock valued at $435,000 after acquiring an additional 967 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of SmartFinancial by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock worth $9,779,000 after acquiring an additional 1,307 shares in the last quarter. Victory Capital Management Inc. grew its position in SmartFinancial by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 31,849 shares of the bank’s stock worth $928,000 after acquiring an additional 1,349 shares during the last quarter. Finally, Huntington National Bank increased its holdings in SmartFinancial by 5,269.2% during the 3rd quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,370 shares in the last quarter. 58.78% of the stock is currently owned by institutional investors and hedge funds.

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.