Brokerages Set SmartFinancial Inc (NASDAQ:SMBK) Price Target at $23.00

SmartFinancial Inc (NASDAQ:SMBK) has earned an average rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $23.00.

A number of research firms have recently issued reports on SMBK. BidaskClub downgraded shares of SmartFinancial from a “hold” rating to a “sell” rating in a research report on Wednesday. DA Davidson restated a “neutral” rating on shares of SmartFinancial in a research report on Monday, July 22nd. Raymond James downgraded 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, ValuEngine downgraded shares of SmartFinancial from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st.

Shares of SmartFinancial stock traded up $0.05 during trading hours on Friday, reaching $21.29. The company’s stock had a trading volume of 5 shares, compared to its average volume of 37,520. The company’s 50 day simple moving average is $20.40 and its 200 day simple moving average is $20.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.00 and a current ratio of 1.00. SmartFinancial has a one year low of $16.17 and a one year high of $23.99. The stock has a market cap of $296.86 million, a P/E ratio of 13.84 and a beta of 0.64.



SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.40 earnings per share (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 business had revenue of $29.22 million during the quarter, compared to the consensus estimate of $23.22 million. On average, sell-side analysts predict that SmartFinancial will post 1.61 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new stake in SmartFinancial in the 2nd quarter valued at about $26,000. BNP Paribas Arbitrage SA lifted its position in SmartFinancial by 519.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,985 shares during the last quarter. Bessemer Group Inc. bought a new stake in SmartFinancial in the 2nd quarter valued at about $67,000. JPMorgan Chase & Co. lifted its position in SmartFinancial by 194.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,271 shares of the bank’s stock valued at $177,000 after purchasing an additional 5,462 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in SmartFinancial by 9.0% in the 1st quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock valued at $251,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 40.35% 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.

Recommended Story: How does inflation affect different investments?

Analyst Recommendations for SmartFinancial (NASDAQ:SMBK)

Receive News & Ratings for SmartFinancial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SmartFinancial and related companies with MarketBeat.com's FREE daily email newsletter.