DA Davidson initiated coverage on shares of SmartFinancial (NASDAQ:SMBK) in a research note released on Wednesday, BenzingaRatingsTable reports. The firm issued a neutral rating on the bank’s stock.
SMBK has been the topic of a number of other research reports. ValuEngine downgraded shares of Xylem from a buy rating to a hold rating in a report on Tuesday, May 14th. Zacks Investment Research downgraded shares of Zurich Insurance Group from a hold rating to a sell rating in a report on Saturday, April 20th. BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. Finally, FIG Partners reiterated an outperform rating on shares of SmartFinancial in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. SmartFinancial presently has an average rating of Hold and an average price target of $23.00.
SmartFinancial stock opened at $22.50 on Wednesday. The company has a market cap of $313.79 million, a P/E ratio of 14.06 and a beta of 0.55. The firm’s fifty day simple moving average is $21.29. The company has a quick ratio of 0.97, a current 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 $26.28.
SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The business had revenue of $22.70 million for the quarter, compared to the consensus estimate of $23.06 million. SmartFinancial had a net margin of 18.23% and a return on equity of 7.91%. As a group, equities research analysts anticipate that SmartFinancial will post 1.7 EPS for the current year.
In other news, Director Monique Berke bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were purchased at an average price of $21.21 per share, for a total transaction of $84,840.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.82% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its holdings in 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 period. Metropolitan Life Insurance Co. NY raised its holdings in 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 period. Acadian Asset Management LLC raised its holdings in SmartFinancial by 9.0% in the 1st quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock worth $251,000 after acquiring an additional 1,100 shares during the period. Rhumbline Advisers raised its holdings in SmartFinancial by 44.8% in the 4th quarter. Rhumbline Advisers now owns 15,938 shares of the bank’s stock worth $291,000 after acquiring an additional 4,934 shares during the period. Finally, Suntrust Banks Inc. acquired a new stake in SmartFinancial in the 4th quarter worth $368,000. Hedge funds and other institutional investors own 38.73% 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.
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