Several other equities analysts have also recently commented on the stock. Sandler O’Neill initiated coverage on shares of SmartFinancial in a research note on Monday, March 4th. They set a buy rating on the stock. BidaskClub cut shares of SmartFinancial from a sell rating to a strong sell rating in a research note on Saturday, January 19th. FIG Partners initiated coverage on shares of SmartFinancial in a research note on Friday, February 22nd. They issued an outperform rating on the stock. Finally, Zacks Investment Research cut shares of SmartFinancial from a buy rating to a hold rating in a research note on Saturday, January 19th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $24.50.
SmartFinancial stock traded up $0.22 during trading hours on Tuesday, hitting $21.01. 305 shares of the company traded hands, compared to its average volume of 43,629. The stock has a market cap of $289.39 million, a price-to-earnings ratio of 13.45 and a beta of 0.54. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. SmartFinancial has a 1-year low of $16.17 and a 1-year high of $27.69.
SmartFinancial (NASDAQ:SMBK) last released its earnings results on Wednesday, April 24th. The bank reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.04). The company had revenue of $22.70 million for the quarter, compared to analyst estimates of $23.06 million. SmartFinancial had a net margin of 18.23% and a return on equity of 7.91%. Research analysts expect that SmartFinancial will post 1.72 earnings per share for the current fiscal year.
In other SmartFinancial news, Director Monique Berke acquired 4,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were bought at an average price of $21.21 per share, with a total value of $84,840.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 9.82% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in shares of 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. Metropolitan Life Insurance Co. NY increased its position in shares of 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. Citigroup Inc. increased its position in shares of SmartFinancial by 70.8% in the first quarter. Citigroup Inc. now owns 5,216 shares of the bank’s stock worth $99,000 after acquiring an additional 2,162 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of SmartFinancial by 84.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,160 shares of the bank’s stock worth $175,000 after acquiring an additional 4,195 shares in the last quarter. Finally, Evergreen Advisors LLC purchased a new position in shares of SmartFinancial in the fourth quarter worth approximately $201,000. 34.77% of the stock is currently owned by institutional investors.
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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