Brokerages Set SmartFinancial, Inc. (NASDAQ:SMBK) PT at $29.50

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $29.50.

A number of analysts have commented on SMBK shares. Raymond James upped their price target on shares of SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 23rd. Stephens downgraded SmartFinancial from an “overweight” rating to an “equal weight” rating in a report on Monday. Finally, Hovde Group boosted their price target on SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research note on Wednesday, October 23rd.

SmartFinancial Stock Down 2.0 %

Shares of NASDAQ:SMBK opened at $34.93 on Thursday. The firm has a market cap of $591.36 million, a P/E ratio of 18.01 and a beta of 0.68. SmartFinancial has a 12-month low of $19.00 and a 12-month high of $37.72. The business has a fifty day simple moving average of $33.31 and a 200 day simple moving average of $28.63. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. SmartFinancial had a return on equity of 6.81% and a net margin of 11.88%. The company had revenue of $73.10 million during the quarter, compared to the consensus estimate of $42.32 million. During the same period last year, the company earned $0.43 earnings per share. Analysts predict that SmartFinancial will post 2.02 earnings per share for the current year.

SmartFinancial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. SmartFinancial’s dividend payout ratio (DPR) is presently 16.49%.

Institutional Trading of SmartFinancial

Hedge funds have recently bought and sold shares of the business. Stieven Capital Advisors L.P. purchased a new stake in shares of SmartFinancial in the third quarter valued at about $4,491,000. Wellington Management Group LLP lifted its position in shares of SmartFinancial by 69.0% during the 3rd quarter. Wellington Management Group LLP now owns 340,418 shares of the bank’s stock worth $9,920,000 after buying an additional 139,009 shares in the last quarter. Mendon Capital Advisors Corp lifted its position in shares of SmartFinancial by 5,760.9% during the 2nd quarter. Mendon Capital Advisors Corp now owns 66,990 shares of the bank’s stock worth $1,586,000 after buying an additional 65,847 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of SmartFinancial by 320.7% in the 2nd quarter. Acadian Asset Management LLC now owns 54,574 shares of the bank’s stock worth $1,289,000 after buying an additional 41,602 shares during the last quarter. Finally, Foundry Partners LLC grew its holdings in shares of SmartFinancial by 23.9% in the third quarter. Foundry Partners LLC now owns 184,555 shares of the bank’s stock valued at $5,378,000 after acquiring an additional 35,565 shares in the last quarter. Institutional investors and hedge funds own 58.78% 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, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.