SmartFinancial, Inc. (NASDAQ:SMBK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have received an average rating of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $29.50.

Several research analysts have recently issued reports on the stock. Raymond James raised their target price 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. Hovde Group raised their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a report on Wednesday, October 23rd.

SmartFinancial Stock Up 1.0 %

Shares of SmartFinancial stock opened at $36.21 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 stock has a market capitalization of $612.81 million, a price-to-earnings ratio of 18.66 and a beta of 0.68. The company’s 50 day moving average price is $32.92 and its 200-day moving average price is $28.33.

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

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, November 12th. SmartFinancial’s dividend payout ratio (DPR) is currently 16.49%.

Institutional Trading of SmartFinancial

Several large investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in SmartFinancial by 78.6% during the third quarter. Barclays PLC now owns 22,848 shares of the bank’s stock valued at $666,000 after buying an additional 10,055 shares during the period. Geode Capital Management LLC lifted its position in SmartFinancial by 0.4% during the third quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock valued at $9,779,000 after buying an additional 1,307 shares during the period. XTX Topco Ltd purchased a new position in SmartFinancial during the third quarter valued at $272,000. Jane Street Group LLC lifted its position in SmartFinancial by 6.9% during 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 during the period. Finally, Wellington Management Group LLP lifted its position in SmartFinancial by 69.0% during the third 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. 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.