SmartFinancial, Inc. (NASDAQ:SMBK) Stock Has Average Price Target of $50.42 According to Analysts

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $50.42.

Several research firms have issued reports on SMBK. Stephens raised their price target on shares of SmartFinancial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Raymond James Financial reissued a “strong-buy” rating and set a $58.00 price objective on shares of SmartFinancial in a research note on Wednesday, July 22nd. Benchmark raised their target price on shares of SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods increased their price target on SmartFinancial from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, July 23rd.

SmartFinancial Stock Up 0.3%

SMBK opened at $50.18 on Friday. The firm has a market cap of $857.94 million, a P/E ratio of 23.45 and a beta of 0.71. The business’s fifty day simple moving average is $51.34 and its 200 day simple moving average is $46.34. SmartFinancial has a 52 week low of $33.01 and a 52 week high of $54.14. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 31st were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. SmartFinancial’s dividend payout ratio (DPR) is currently 10.62%.

Institutional Trading of SmartFinancial

Several institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its position in shares of SmartFinancial by 1,374.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock worth $42,000 after buying an additional 797 shares during the period. Sequoia Financial Advisors LLC acquired a new position in SmartFinancial in the second quarter valued at $371,000. Engineers Gate Manager LP grew its position in SmartFinancial by 17.7% during the second quarter. Engineers Gate Manager LP now owns 6,570 shares of the bank’s stock valued at $308,000 after acquiring an additional 990 shares during the period. Squarepoint Ops LLC grew its position in SmartFinancial by 106.6% during the second quarter. Squarepoint Ops LLC now owns 15,439 shares of the bank’s stock valued at $724,000 after acquiring an additional 7,965 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in SmartFinancial during the second quarter worth about $47,000. 58.78% of the stock is owned by hedge funds and other institutional investors.

SmartFinancial Company Profile

SmartFinancial, Inc (NASDAQ: SMBK) is a bank holding company for SmartBank, a community bank that provides financial services to individuals, businesses and organizations. The company offers deposit accounts, consumer and commercial lending, mortgage services, treasury management, online and mobile banking, and wealth management services.

SmartBank was established in 2007 and has expanded through organic growth and acquisitions. Its banking operations serve communities across Tennessee, Alabama and Florida, with branches and lending activities focused primarily on the Southeast.

SmartFinancial is led by William G.