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

SmartFinancial, Inc. (NASDAQ:SMBK) has earned an average recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat 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 objective among analysts that have issued a report on the stock in the last year is $29.50.

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

SmartFinancial Trading Down 0.5 %

SmartFinancial stock opened at $30.98 on Monday. The stock has a 50-day moving average price of $34.23 and a 200 day moving average price of $29.75. SmartFinancial has a 52 week low of $19.00 and a 52 week high of $37.72. The stock has a market cap of $524.37 million, a PE ratio of 15.97 and a beta of 0.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10.

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 business 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 6.81%. During the same period in the previous year, the firm posted $0.43 earnings per share. Equities research analysts predict that SmartFinancial will post 2.02 earnings per share for the current fiscal year.

SmartFinancial Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. SmartFinancial’s dividend payout ratio is presently 16.49%.

Insider Transactions at SmartFinancial

In other news, Director John M. Presley sold 6,916 shares of SmartFinancial stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $35.05, for a total value of $242,405.80. Following the transaction, the director now directly owns 3,960 shares of the company’s stock, valued at $138,798. The trade was a 63.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 7,516 shares of company stock worth $262,600 in the last ninety days. Insiders own 7.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its position in SmartFinancial by 78.6% during the 3rd quarter. Barclays PLC now owns 22,848 shares of the bank’s stock worth $666,000 after purchasing an additional 10,055 shares during the period. Geode Capital Management LLC lifted its stake in shares of SmartFinancial by 0.4% during the third quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock worth $9,779,000 after purchasing an additional 1,307 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of SmartFinancial in the third quarter worth about $272,000. Jane Street Group LLC grew 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 buying an additional 967 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of SmartFinancial by 69.0% during the 3rd quarter. Wellington Management Group LLP now owns 340,418 shares of the bank’s stock valued at $9,920,000 after buying an additional 139,009 shares during the period. Hedge funds and other institutional investors own 58.78% 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.