SmartFinancial (NASDAQ:SMBK) PT Raised to $27.00

SmartFinancial (NASDAQ:SMBK) had its price target lifted by Stephens from $26.00 to $27.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has an overweight rating on the bank’s stock.

A number of other brokerages have also recently weighed in on SMBK. Piper Sandler raised shares of SmartFinancial from a neutral rating to an overweight rating and raised their price objective for the stock from $25.00 to $26.00 in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods lowered their target price on SmartFinancial from $26.00 to $24.00 and set a market perform rating on the stock in a report on Wednesday, April 24th. Finally, Hovde Group cut their price target on SmartFinancial from $26.00 to $23.00 and set a market perform rating for the company in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SmartFinancial has a consensus rating of Moderate Buy and a consensus target price of $25.60.

SmartFinancial Price Performance

Shares of NASDAQ:SMBK opened at $23.20 on Thursday. The firm has a market capitalization of $395.79 million, a price-to-earnings ratio of 14.87 and a beta of 0.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day simple moving average is $21.11 and its 200-day simple moving average is $22.13. SmartFinancial has a 12 month low of $19.00 and a 12 month high of $25.98.

SmartFinancial (NASDAQ:SMBK) last posted its earnings results on Monday, April 22nd. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. SmartFinancial had a return on equity of 6.88% and a net margin of 10.65%. The company had revenue of $40.10 million for the quarter, compared to the consensus estimate of $38.98 million. As a group, equities analysts forecast that SmartFinancial will post 1.85 earnings per share for the current fiscal year.

SmartFinancial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Thursday, May 9th. SmartFinancial’s dividend payout ratio (DPR) is 20.51%.

Insider Activity

In related news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total transaction of $51,782.22. Following the transaction, the executive vice president now directly owns 19,091 shares in the company, valued at $412,938.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.68% of the company’s stock.

Hedge Funds Weigh In On SmartFinancial

A number of large investors have recently bought and sold shares of SMBK. Acadian Asset Management LLC acquired a new stake in shares of SmartFinancial during the 1st quarter worth $271,000. Vanguard Group Inc. grew its position in SmartFinancial by 2.5% during the first quarter. Vanguard Group Inc. now owns 789,233 shares of the bank’s stock valued at $16,629,000 after acquiring an additional 19,490 shares during the period. Foundry Partners LLC increased its stake in SmartFinancial by 41.7% during the first quarter. Foundry Partners LLC now owns 150,870 shares of the bank’s stock worth $3,179,000 after acquiring an additional 44,407 shares during the last quarter. Russell Investments Group Ltd. increased its stake in SmartFinancial by 23.7% during the first quarter. Russell Investments Group Ltd. now owns 130,361 shares of the bank’s stock worth $2,747,000 after acquiring an additional 24,979 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of SmartFinancial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 59,437 shares of the bank’s stock worth $1,252,000 after purchasing an additional 4,375 shares during the period. Hedge funds and other 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.