Brokerages Set SmartFinancial, Inc. (NASDAQ:SMBK) PT at $27.00

SmartFinancial, Inc. (NASDAQ:SMBK) has been assigned an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $27.00.

SMBK has been the topic of several recent analyst reports. Stephens reiterated an “overweight” rating and set a $27.00 target price on shares of SmartFinancial in a report on Tuesday, July 23rd. Piper Sandler cut SmartFinancial from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $26.00 to $28.00 in a research note on Wednesday, July 24th. Finally, Hovde Group raised their target price 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.

SmartFinancial Stock Down 1.4 %

NASDAQ:SMBK opened at $31.07 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12. SmartFinancial has a 12-month low of $19.00 and a 12-month high of $31.50. The stock’s fifty day simple moving average is $28.82 and its 200-day simple moving average is $25.11. The firm has a market capitalization of $530.06 million, a P/E ratio of 19.91 and a beta of 0.69.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $40.32 million. During the same period in the prior year, the business posted $0.52 EPS. Equities research analysts expect that SmartFinancial will post 1.97 earnings per share for the current year.

SmartFinancial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. SmartFinancial’s dividend payout ratio (DPR) is presently 20.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SMBK. Rhumbline Advisers increased its position in shares of SmartFinancial by 1.5% in the second quarter. Rhumbline Advisers now owns 24,147 shares of the bank’s stock valued at $572,000 after acquiring an additional 361 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of SmartFinancial by 1.1% during the 2nd quarter. Renaissance Technologies LLC now owns 140,274 shares of the bank’s stock worth $3,320,000 after purchasing an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of SmartFinancial by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 96,021 shares of the bank’s stock worth $2,273,000 after purchasing an additional 3,810 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of SmartFinancial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 59,437 shares of the bank’s stock valued at $1,252,000 after buying an additional 4,375 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in shares of SmartFinancial by 2.2% in the second quarter. Deprince Race & Zollo Inc. now owns 200,565 shares of the bank’s stock valued at $4,747,000 after buying an additional 4,412 shares in the last quarter. 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.