SmartFinancial’s (SMBK) Overweight Rating Reaffirmed at Stephens

Stephens restated their overweight rating on shares of SmartFinancial (NASDAQ:SMBK) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $26.00 price target on the bank’s stock.

A number of other equities research analysts also recently weighed in on the stock. Raymond James boosted their price target on shares of SmartFinancial from $24.00 to $28.00 and gave the stock a strong-buy rating in a research note on Friday, January 5th. StockNews.com raised shares of SmartFinancial from a sell rating to a hold rating in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of SmartFinancial from $25.00 to $26.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SmartFinancial currently has an average rating of Moderate Buy and an average price target of $25.40.

SmartFinancial Price Performance

Shares of SMBK stock opened at $20.84 on Tuesday. SmartFinancial has a 1 year low of $18.86 and a 1 year high of $25.98. The firm’s 50 day moving average is $20.78 and its 200-day moving average is $21.92. The firm has a market capitalization of $355.53 million, a price-to-earnings ratio of 13.36 and a beta of 0.69. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings results on Monday, January 22nd. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The business had revenue of $65.07 million for the quarter, compared to the consensus estimate of $39.14 million. SmartFinancial had a return on equity of 6.94% and a net margin of 10.65%. During the same period last year, the firm earned $0.76 earnings per share. Sell-side analysts forecast that SmartFinancial will post 1.91 EPS for the current fiscal year.

Insider Transactions at SmartFinancial

In other news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.63, for a total transaction of $51,782.22. Following the completion of the sale, the executive vice president now owns 19,091 shares of the company’s stock, valued at $412,938.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SMBK. SG Americas Securities LLC bought a new position in SmartFinancial in the third quarter valued at $159,000. Bailard Inc. bought a new position in shares of SmartFinancial in the 3rd quarter valued at about $292,000. Panagora Asset Management Inc. bought a new position in shares of SmartFinancial in the 3rd quarter valued at about $758,000. New York State Common Retirement Fund grew its position in shares of SmartFinancial by 68.0% in the 3rd quarter. New York State Common Retirement Fund now owns 7,430 shares of the bank’s stock valued at $159,000 after acquiring an additional 3,008 shares during the period. Finally, Swiss National Bank grew its position in shares of SmartFinancial by 2.6% in the 3rd quarter. Swiss National Bank now owns 31,747 shares of the bank’s stock valued at $678,000 after acquiring an additional 800 shares during the period. Institutional investors 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.