SmartFinancial (NASDAQ:SMBK) PT Raised to $32.50

SmartFinancial (NASDAQ:SMBK) had its price target upped by Hovde Group from $28.00 to $32.50 in a research report report published on Wednesday, MarketBeat.com reports. They currently have a market perform rating on the bank’s stock.

Several other analysts have also recently commented on SMBK. Piper Sandler cut shares of SmartFinancial from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $26.00 to $28.00 in a research note on Wednesday, July 24th. Stephens reiterated an “overweight” rating and issued a $27.00 price target on shares of SmartFinancial in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SmartFinancial presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

SmartFinancial Stock Down 2.0 %

SMBK opened at $31.69 on Wednesday. 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 has a fifty-two week low of $19.00 and a fifty-two week high of $32.40. The firm’s fifty day moving average is $29.25 and its 200 day moving average is $25.52. The stock has a market cap of $540.73 million, a price-to-earnings ratio of 20.31 and a beta of 0.69.

SmartFinancial (NASDAQ:SMBK) last released its earnings results on Monday, October 21st. The bank reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. SmartFinancial had a net margin of 9.93% and a return on equity of 6.55%. The company had revenue of $73.10 million for the quarter, compared to analysts’ expectations of $42.32 million. During the same quarter in the previous year, the company earned $0.43 EPS. On average, sell-side analysts forecast that SmartFinancial will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of SmartFinancial

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of SmartFinancial in the 3rd quarter worth about $161,000. Acadian Asset Management LLC bought a new stake in shares of SmartFinancial in the 1st quarter worth about $271,000. Creative Planning bought a new stake in shares of SmartFinancial in the 3rd quarter worth about $394,000. Inspire Investing LLC bought a new stake in shares of SmartFinancial in the 3rd quarter worth about $415,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of SmartFinancial by 429.0% in the 1st quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank’s stock worth $499,000 after buying an additional 19,210 shares during the last quarter. 58.78% of the stock is currently owned by institutional investors.

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.