SmartFinancial (SMBK) Raised to Hold at ValuEngine

SmartFinancial (NASDAQ:SMBK) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Monday.

Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of SmartFinancial from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 13th. Stephens initiated coverage on shares of SmartFinancial in a research note on Tuesday, June 26th. They issued an “equal weight” rating and a $27.00 target price on the stock. Zacks Investment Research lowered shares of SmartFinancial from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Hovde Group upped their target price on shares of SmartFinancial from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Friday, June 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. SmartFinancial has a consensus rating of “Hold” and an average price target of $26.80.

Shares of SmartFinancial stock opened at $23.79 on Monday. The stock has a market capitalization of $299.19 million, a PE ratio of 21.43 and a beta of 0.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. SmartFinancial has a 1 year low of $19.49 and a 1 year high of $27.69.

SmartFinancial (NASDAQ:SMBK) last issued its earnings results on Tuesday, July 24th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $21.12 million for the quarter, compared to analyst estimates of $20.40 million. SmartFinancial had a net margin of 11.64% and a return on equity of 7.08%. Sell-side analysts forecast that SmartFinancial will post 1.57 earnings per share for the current year.

In other SmartFinancial news, Director James Beaumont Wicks acquired 10,250 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was acquired at an average price of $24.74 per share, with a total value of $253,585.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William L. Yoder sold 20,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $24.25, for a total transaction of $485,000.00. The disclosure for this sale can be found here. 11.96% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers bought a new stake in shares of SmartFinancial during the 2nd quarter valued at about $275,000. First Trust Advisors LP bought a new stake in shares of SmartFinancial during the 2nd quarter valued at about $613,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of SmartFinancial during the 2nd quarter valued at about $106,000. Dimensional Fund Advisors LP bought a new stake in shares of SmartFinancial during the 1st quarter valued at about $1,083,000. Finally, Acadian Asset Management LLC bought a new stake in shares of SmartFinancial during the 2nd quarter valued at about $346,000. 36.59% of the stock is owned by institutional investors and hedge funds.

About SmartFinancial

SmartFinancial, Inc operates as the bank holding company for the SmartBank that provides various financial services to individuals and corporate customers in the United States. 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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