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

SmartFinancial, Inc. (NASDAQ:SMBK) has earned an average rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat 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 1 year price target among brokerages that have covered the stock in the last year is $27.00.

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

Hedge Funds Weigh In On SmartFinancial

A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in SmartFinancial by 11.2% during the 4th quarter. Victory Capital Management Inc. now owns 23,300 shares of the bank’s stock worth $571,000 after acquiring an additional 2,350 shares during the last quarter. 1492 Capital Management LLC bought a new position in shares of SmartFinancial during the fourth quarter valued at about $242,000. SlateStone Wealth LLC boosted its holdings in SmartFinancial by 1.5% during the first quarter. SlateStone Wealth LLC now owns 33,927 shares of the bank’s stock worth $715,000 after purchasing an additional 500 shares during the last quarter. Salzhauer Michael grew its position in SmartFinancial by 5.5% in the 1st quarter. Salzhauer Michael now owns 243,467 shares of the bank’s stock worth $5,130,000 after purchasing an additional 12,700 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in SmartFinancial by 429.0% in the 1st quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank’s stock valued at $499,000 after buying an additional 19,210 shares during the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

SmartFinancial Trading Down 0.8 %

Shares of SMBK stock opened at $29.70 on Friday. The company has a market cap of $506.77 million, a P/E ratio of 19.04 and a beta of 0.69. SmartFinancial has a fifty-two week low of $19.00 and a fifty-two week high of $30.21. The stock has a 50 day simple moving average of $28.11 and a two-hundred day simple moving average of $24.03. 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) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. The company had revenue of $68.89 million during the quarter, compared to analyst estimates of $40.32 million. SmartFinancial had a net margin of 9.93% and a return on equity of 6.55%. During the same quarter in the previous year, the business posted $0.52 EPS. Research analysts forecast that SmartFinancial will post 1.99 earnings per share for the current year.

SmartFinancial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.32 annualized dividend and a yield of 1.08%. SmartFinancial’s payout ratio is 20.51%.

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.