Analysts Anticipate SmartFinancial Inc (NASDAQ:SMBK) Will Announce Quarterly Sales of $23.66 Million

Wall Street brokerages forecast that SmartFinancial Inc (NASDAQ:SMBK) will post sales of $23.66 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SmartFinancial’s earnings, with the highest sales estimate coming in at $24.01 million and the lowest estimate coming in at $23.30 million. SmartFinancial posted sales of $20.72 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.2%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 22nd.

According to Zacks, analysts expect that SmartFinancial will report full year sales of $93.50 million for the current year, with estimates ranging from $92.20 million to $94.80 million. For the next year, analysts anticipate that the company will post sales of $99.58 million, with estimates ranging from $96.10 million to $103.06 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover SmartFinancial.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). SmartFinancial had a return on equity of 7.82% and a net margin of 20.91%. The firm had revenue of $29.22 million during the quarter, compared to the consensus estimate of $23.22 million.



A number of analysts have recently commented on the company. Raymond James downgraded SmartFinancial from an “outperform” rating to a “market perform” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. BidaskClub cut SmartFinancial from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine cut SmartFinancial from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, DA Davidson restated a “neutral” rating on shares of SmartFinancial in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $23.00.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of SmartFinancial in the 2nd quarter worth $26,000. BNP Paribas Arbitrage SA grew its holdings in shares of SmartFinancial by 519.6% in the 1st 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 during the last quarter. Bessemer Group Inc. acquired a new position in shares of SmartFinancial in the 2nd quarter worth $67,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of SmartFinancial by 356.8% in the 4th 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 during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of SmartFinancial by 194.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,271 shares of the bank’s stock worth $177,000 after acquiring an additional 5,462 shares during the last quarter. Institutional investors and hedge funds own 39.31% of the company’s stock.

Shares of SMBK traded down $0.78 during midday trading on Wednesday, reaching $19.04. The stock had a trading volume of 15,684 shares, compared to its average volume of 42,808. SmartFinancial has a 52 week low of $16.17 and a 52 week high of $25.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50 day moving average price is $21.46 and its 200-day moving average price is $20.58. The company has a market capitalization of $282.55 million, a P/E ratio of 12.28 and a beta of 0.56.

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, 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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Earnings History and Estimates for SmartFinancial (NASDAQ:SMBK)

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