SmartFinancial (NASDAQ:SMBK) Rating Reiterated by Stephens

SmartFinancial (NASDAQ:SMBK)‘s stock had its “overweight” rating reiterated by analysts at Stephens in a report released on Tuesday, Benzinga reports. They presently have a $26.00 target price on the bank’s stock. Stephens’ target price suggests a potential upside of 28.97% from the stock’s current price.

Several other research firms have also recently commented on SMBK. Keefe, Bruyette & Woods raised their target price on shares of SmartFinancial from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. StockNews.com upgraded shares of SmartFinancial from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Raymond James lifted their price target on shares of SmartFinancial from $24.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, SmartFinancial has an average rating of “Moderate Buy” and a consensus price target of $26.25.

SmartFinancial Trading Up 2.5 %

SMBK stock traded up $0.50 on Tuesday, hitting $20.16. 10,799 shares of the company were exchanged, compared to its average volume of 31,970. SmartFinancial has a twelve month low of $18.86 and a twelve month high of $25.98. The business’s fifty day moving average is $20.85 and its two-hundred day moving average is $21.94. The stock has a market capitalization of $343.93 million, a price-to-earnings ratio of 11.93 and a beta of 0.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.88 and a quick ratio of 0.88.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). SmartFinancial had a net margin of 11.90% and a return on equity of 7.67%. The company had revenue of $65.07 million for the quarter, compared to the consensus estimate of $39.14 million. During the same quarter last year, the company earned $0.76 earnings per share. As a group, research analysts forecast that SmartFinancial will post 1.91 earnings per share for the current year.

Insiders Place Their Bets

In other SmartFinancial news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total transaction of $51,782.22. Following the completion of the transaction, the executive vice president now owns 19,091 shares of the company’s stock, valued at approximately $412,938.33. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On SmartFinancial

Large investors have recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its holdings 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 buying an additional 3,008 shares during the last quarter. SG Americas Securities LLC bought a new stake in SmartFinancial in the 3rd quarter valued at $159,000. 1492 Capital Management LLC bought a new position in SmartFinancial during the 4th quarter worth $242,000. Bailard Inc. bought a new position in SmartFinancial during the 3rd quarter worth $292,000. Finally, Equitable Trust Co. increased its position in shares of SmartFinancial by 7.1% in the fourth quarter. Equitable Trust Co. now owns 16,525 shares of the bank’s stock worth $405,000 after purchasing an additional 1,100 shares during the period. Institutional investors and hedge funds 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.