Analysts Set SmartFinancial, Inc. (NASDAQ:SMBK) Target Price at $29.50

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have been given an average rating of “Moderate Buy” by the five analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $29.50.

A number of brokerages have recently weighed in on SMBK. Stephens reiterated an “overweight” rating and issued a $27.00 price objective on shares of SmartFinancial in a research report on Tuesday, July 23rd. Hovde Group lifted 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. Raymond James upped their price objective on shares of SmartFinancial from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler lowered shares of SmartFinancial from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $26.00 to $28.00 in a research note on Wednesday, July 24th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Huntington National Bank grew its holdings in SmartFinancial by 5,269.2% in the third quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock worth $41,000 after purchasing an additional 1,370 shares during the period. SG Americas Securities LLC bought a new position in SmartFinancial during the 3rd quarter valued at approximately $161,000. CAP Partners LLC purchased a new position in SmartFinancial during the third quarter valued at $230,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in SmartFinancial in the third quarter worth $334,000. Finally, Acadian Asset Management LLC bought a new stake in SmartFinancial in the first quarter worth $271,000. 58.78% of the stock is currently owned by institutional investors.

SmartFinancial Trading Up 0.5 %

NASDAQ:SMBK opened at $36.22 on Friday. The firm has a market capitalization of $612.84 million, a P/E ratio of 18.60 and a beta of 0.67. 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 company has a fifty day moving average of $30.80 and a 200 day moving average of $26.86. SmartFinancial has a 52 week low of $19.00 and a 52 week high of $37.72.

SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. The firm had revenue of $73.10 million during the quarter, compared to the consensus estimate of $42.32 million. SmartFinancial had a net margin of 11.88% and a return on equity of 6.90%. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, research analysts predict that SmartFinancial will post 2.03 earnings per share for the current year.

SmartFinancial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, November 12th. SmartFinancial’s dividend payout ratio (DPR) is presently 16.49%.

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.