Analysts expect that SmartFinancial Inc (NASDAQ:SMBK) will announce $23.31 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for SmartFinancial’s earnings, with estimates ranging from $22.98 million to $23.65 million. SmartFinancial reported sales of $23.13 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.8%. The business is expected to report its next quarterly earnings results on Wednesday, January 22nd.
On average, analysts expect that SmartFinancial will report full-year sales of $92.14 million for the current financial year, with estimates ranging from $91.12 million to $92.89 million. For the next financial year, analysts expect that the company will post sales of $103.67 million, with estimates ranging from $95.70 million to $108.41 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow SmartFinancial.
SmartFinancial (NASDAQ:SMBK) last released its earnings results on Tuesday, October 22nd. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $23.34 million for the quarter, compared to the consensus estimate of $23.61 million. SmartFinancial had a return on equity of 7.81% and a net margin of 21.46%.
A number of research firms recently commented on SMBK. ValuEngine lowered SmartFinancial from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Zacks Investment Research raised SmartFinancial from a “sell” rating to a “hold” rating in a research note on Saturday, October 26th. BidaskClub raised SmartFinancial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Stephens reaffirmed a “hold” rating and set a $23.00 price target on shares of SmartFinancial in a research note on Wednesday, November 13th. Finally, DA Davidson upgraded shares of SmartFinancial from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. SmartFinancial currently has an average rating of “Hold” and a consensus price target of $23.33.
Shares of NASDAQ:SMBK traded up $0.45 during trading on Wednesday, hitting $22.84. 2,541 shares of the company were exchanged, compared to its average volume of 50,487. The stock has a market cap of $315.92 million, a price-to-earnings ratio of 14.79 and a beta of 0.71. SmartFinancial has a fifty-two week low of $16.17 and a fifty-two week high of $22.90. The firm has a fifty day moving average price of $21.38 and a two-hundred day moving average price of $21.12. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.21.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.88%. SmartFinancial’s payout ratio is currently 12.90%.
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in SmartFinancial by 10.4% in the 2nd quarter. BlackRock Inc. now owns 728,522 shares of the bank’s stock valued at $15,801,000 after buying an additional 68,391 shares in the last quarter. Vanguard Group Inc. grew its stake in SmartFinancial by 3.9% during the second quarter. Vanguard Group Inc. now owns 544,238 shares of the bank’s stock valued at $11,804,000 after acquiring an additional 20,644 shares in the last quarter. Private Capital Management LLC grew its stake in SmartFinancial by 2.1% during the third quarter. Private Capital Management LLC now owns 493,047 shares of the bank’s stock valued at $10,270,000 after acquiring an additional 9,948 shares in the last quarter. Wasatch Advisors Inc. grew its stake in SmartFinancial by 18.4% during the second quarter. Wasatch Advisors Inc. now owns 225,556 shares of the bank’s stock valued at $4,892,000 after acquiring an additional 35,048 shares in the last quarter. Finally, State Street Corp grew its stake in SmartFinancial by 2.9% during the third quarter. State Street Corp now owns 199,676 shares of the bank’s stock valued at $4,159,000 after acquiring an additional 5,666 shares in the last quarter. 40.60% of the stock is owned by institutional investors and hedge funds.
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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