SmartFinancial, Inc. (NASDAQ:SMBK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of SmartFinancial, Inc. (NASDAQ:SMBK – Get Free Report) have received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $27.00.

Several analysts recently issued reports on SMBK shares. Piper Sandler lowered shares of SmartFinancial from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $26.00 to $28.00 in a report on Wednesday, July 24th. Hovde Group upped their price objective on shares of SmartFinancial from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $27.00 price objective on shares of SmartFinancial in a research report on Tuesday, July 23rd.

Read Our Latest Stock Analysis on SMBK

Institutional Investors Weigh In On SmartFinancial

Hedge funds have recently added to or reduced their stakes in the business. Foundry Partners LLC increased its position in shares of SmartFinancial by 41.7% during the first quarter. Foundry Partners LLC now owns 150,870 shares of the bank’s stock worth $3,179,000 after acquiring an additional 44,407 shares during the period. BNP Paribas Financial Markets increased its holdings in SmartFinancial by 429.0% during the 1st quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank’s stock worth $499,000 after purchasing an additional 19,210 shares during the period. Russell Investments Group Ltd. increased its holdings in SmartFinancial by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 130,361 shares of the bank’s stock worth $2,747,000 after purchasing an additional 24,979 shares during the period. Vanguard Group Inc. raised its position in SmartFinancial by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 789,233 shares of the bank’s stock valued at $16,629,000 after purchasing an additional 19,490 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of SmartFinancial by 320.7% in the 2nd quarter. Acadian Asset Management LLC now owns 54,574 shares of the bank’s stock valued at $1,289,000 after buying an additional 41,602 shares during the period. 58.78% of the stock is currently owned by institutional investors and hedge funds.

SmartFinancial Stock Up 0.4 %

SMBK stock opened at $28.64 on Friday. SmartFinancial has a one year low of $19.00 and a one year high of $30.21. The firm has a market cap of $488.68 million, a PE ratio of 18.36 and a beta of 0.69. The firm’s 50 day moving average price is $28.21 and its 200-day moving average price is $24.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90.

SmartFinancial (NASDAQ:SMBK – Get Free Report) last posted its earnings results on Monday, July 22nd. The bank reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. The company had revenue of $68.89 million for the quarter, compared to the consensus estimate of $40.32 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts anticipate that SmartFinancial will post 1.99 EPS for the current year.

SmartFinancial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Friday, August 9th. SmartFinancial’s dividend payout ratio (DPR) is currently 20.51%.

About SmartFinancial

(Get Free Report

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.

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