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

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have been given an average rating of “Moderate Buy” by the five research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $29.50.

Several equities analysts recently commented on SMBK shares. Hovde Group increased their price objective on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research note on Wednesday, October 23rd. Raymond James upped their price target 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.

SmartFinancial Trading Down 0.1 %

Shares of SMBK opened at $35.65 on Thursday. 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 has a 52-week low of $19.00 and a 52-week high of $37.72. The firm has a market cap of $603.55 million, a price-to-earnings ratio of 18.38 and a beta of 0.68. The business’s fifty day moving average is $33.20 and its 200-day moving average is $28.51.

SmartFinancial (NASDAQ:SMBK) last released its earnings results on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The firm had revenue of $73.10 million for the quarter, compared to analysts’ expectations of $42.32 million. SmartFinancial had a return on equity of 6.81% and a net margin of 11.88%. During the same quarter in the previous year, the business posted $0.43 earnings per share. Equities analysts anticipate that SmartFinancial will post 2.02 EPS for the current fiscal year.

SmartFinancial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Tuesday, November 12th. SmartFinancial’s payout ratio is currently 16.49%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank boosted its stake in shares of SmartFinancial by 5,269.2% in 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 during the last quarter. SG Americas Securities LLC acquired a new position in SmartFinancial in the third quarter valued at $161,000. Jacobs Levy Equity Management Inc. bought a new stake in SmartFinancial during the third quarter valued at $226,000. CAP Partners LLC acquired a new stake in SmartFinancial during the 3rd quarter worth about $230,000. Finally, XTX Topco Ltd bought a new position in shares of SmartFinancial in the 3rd quarter worth about $272,000. 58.78% of the stock is owned by institutional investors and hedge funds.

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.