SmartFinancial, Inc. (NASDAQ:SMBK) Receives $29.50 Consensus Price Target from Brokerages

SmartFinancial, Inc. (NASDAQ:SMBK) has received an average rating of “Hold” from the five analysts that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $29.50.

Several equities analysts recently issued reports on the company. Hovde Group boosted their price target on SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research report on Wednesday, October 23rd. Stephens lowered SmartFinancial from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Finally, Raymond James increased their price target on SmartFinancial from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 23rd.

Insider Activity at SmartFinancial

In related news, Director John M. Presley sold 6,916 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $35.05, for a total transaction of $242,405.80. Following the sale, the director now owns 3,960 shares of the company’s stock, valued at approximately $138,798. The trade was a 63.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 7,516 shares of company stock worth $262,600 over the last three months. 7.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SmartFinancial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank raised its stake in shares of SmartFinancial by 5,269.2% during the 3rd quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock worth $41,000 after buying an additional 1,370 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of SmartFinancial in the third quarter valued at about $161,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of SmartFinancial in the third quarter valued at about $226,000. CAP Partners LLC acquired a new stake in shares of SmartFinancial in the third quarter valued at approximately $230,000. Finally, XTX Topco Ltd purchased a new position in shares of SmartFinancial during the 3rd quarter worth approximately $272,000. 58.78% of the stock is currently owned by institutional investors and hedge funds.

SmartFinancial Trading Down 0.5 %

SMBK opened at $30.98 on Monday. The firm has a market cap of $524.37 million, a price-to-earnings ratio of 15.97 and a beta of 0.68. SmartFinancial has a 52 week low of $19.00 and a 52 week high of $37.72. The business’s 50 day moving average is $34.23 and its two-hundred day moving average is $29.75. The company has a quick ratio of 0.90, a current 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $42.32 million. During the same quarter in the prior year, the business earned $0.43 EPS. On average, research analysts predict that SmartFinancial will post 2.02 EPS for the current year.

SmartFinancial Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, November 12th. SmartFinancial’s dividend payout ratio (DPR) is 16.49%.

About SmartFinancial

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.