SmartFinancial (NASDAQ:SMBK) Stock Rating Lowered by BidaskClub

SmartFinancial (NASDAQ:SMBK) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Other research analysts have also issued reports about the stock. FIG Partners restated an “outperform” rating on shares of SmartFinancial in a research report on Thursday, April 25th. ValuEngine upgraded shares of SmartFinancial from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Raymond James lowered shares of SmartFinancial from an “outperform” rating to a “market perform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Finally, DA Davidson restated a “neutral” rating on shares of SmartFinancial in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.00.

SMBK opened at $20.25 on Tuesday. The company has a fifty day moving average price of $21.54 and a 200-day moving average price of $20.57. The firm has a market capitalization of $282.55 million, a P/E ratio of 13.06 and a beta of 0.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00. SmartFinancial has a one year low of $16.17 and a one year high of $25.26.



SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The firm had revenue of $29.22 million for the quarter, compared to analysts’ expectations of $23.22 million. SmartFinancial had a net margin of 20.91% and a return on equity of 7.82%. On average, analysts expect that SmartFinancial will post 1.61 earnings per share for the current year.

A number of large investors have recently made changes to their positions in SMBK. Steward Partners Investment Advisory LLC purchased a new position in SmartFinancial in the second quarter worth $26,000. BNP Paribas Arbitrage SA grew its position in SmartFinancial by 519.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the bank’s stock worth $45,000 after acquiring an additional 1,985 shares in the last quarter. Bessemer Group Inc. purchased a new position in SmartFinancial in the second quarter worth $67,000. Metropolitan Life Insurance Co. NY grew its position in SmartFinancial by 356.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,111 shares of the bank’s stock worth $75,000 after acquiring an additional 3,211 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in SmartFinancial by 194.4% in the second quarter. JPMorgan Chase & Co. now owns 8,271 shares of the bank’s stock worth $177,000 after acquiring an additional 5,462 shares in the last quarter. Institutional investors own 39.31% 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, Florida, and Georgia. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit.

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Analyst Recommendations for SmartFinancial (NASDAQ:SMBK)

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