SmartFinancial, Inc. (NASDAQ:SMBK) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $52.60.

Several brokerages have commented on SMBK. Raymond James Financial downgraded SmartFinancial from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $58.00 to $56.00 in a research note on Wednesday, October 21st. Benchmark raised their price target on shares of SmartFinancial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Keefe, Bruyette & Woods lifted their price target on shares of SmartFinancial from $51.00 to $52.00 and gave the company a “market perform” rating in a report on Wednesday, October 21st. Finally, Stephens lifted their price target on shares of SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd.

Insider Buying and Selling

In other SmartFinancial news, Director Steven Tucker sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $49.50, for a total value of $173,250.00. Following the sale, the director owned 47,222 shares in the company, valued at $2,337,489. This trade represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 4,360 shares of company stock valued at $217,864. 6.93% of the stock is owned by corporate insiders.

Institutional Trading of SmartFinancial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in shares of SmartFinancial in the 2nd quarter valued at $3,746,000. Bank of America Corp DE boosted its holdings in shares of SmartFinancial by 147.6% during the 1st quarter. Bank of America Corp DE now owns 47,443 shares of the bank’s stock valued at $1,854,000 after acquiring an additional 28,280 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. acquired a new stake in shares of SmartFinancial during the 3rd quarter valued at $1,053,000. Hsbc Holdings PLC boosted its holdings in shares of SmartFinancial by 176.1% during the 4th quarter. Hsbc Holdings PLC now owns 22,325 shares of the bank’s stock valued at $825,000 after acquiring an additional 14,240 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in SmartFinancial during the 1st quarter worth $792,000. Institutional investors own 58.78% of the company’s stock.

SmartFinancial Stock Performance

NASDAQ:SMBK opened at $48.34 on Tuesday. The stock’s 50-day simple moving average is $50.50 and its 200 day simple moving average is $45.13. The firm has a market capitalization of $826.52 million, a PE ratio of 22.59 and a beta of 0.71. 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 has a twelve month low of $34.22 and a twelve month high of $54.14.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank’s products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.