SmartFinancial (SMBK) Expected to Announce Quarterly Earnings on Tuesday

SmartFinancial (NASDAQ:SMBK) is projected to issue its results after the market closes on Tuesday, January 20th. Analysts expect the company to announce earnings of $0.80 per share and revenue of $51.3870 million for the quarter.

SmartFinancial Price Performance

Shares of SMBK stock opened at $39.44 on Monday. The company has a market cap of $671.50 million, a P/E ratio of 18.43 and a beta of 0.75. 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 $26.31 and a twelve month high of $40.08. The business has a fifty day simple moving average of $37.30 and a 200 day simple moving average of $36.18.

SmartFinancial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Monday, November 17th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. SmartFinancial’s dividend payout ratio (DPR) is 11.68%.

Insiders Place Their Bets

In other SmartFinancial news, Director Steven B. Tucker sold 10,625 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $38.01, for a total transaction of $403,856.25. Following the sale, the director owned 49,914 shares of the company’s stock, valued at $1,897,231.14. The trade was a 17.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 7.62% of the company’s stock.

Hedge Funds Weigh In On SmartFinancial

Hedge funds have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC purchased a new stake in SmartFinancial during the 3rd quarter worth about $232,000. Virtus Advisers LLC bought a new stake in shares of SmartFinancial during the third quarter valued at about $149,000. Qube Research & Technologies Ltd lifted its holdings in shares of SmartFinancial by 134.9% in the third quarter. Qube Research & Technologies Ltd now owns 63,519 shares of the bank’s stock worth $2,270,000 after buying an additional 36,476 shares in the last quarter. Creative Planning boosted its position in shares of SmartFinancial by 8.8% in the third quarter. Creative Planning now owns 23,825 shares of the bank’s stock valued at $851,000 after acquiring an additional 1,920 shares during the period. Finally, Zacks Investment Management boosted its position in shares of SmartFinancial by 21.1% in the third quarter. Zacks Investment Management now owns 76,990 shares of the bank’s stock valued at $2,751,000 after acquiring an additional 13,438 shares during the period. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Piper Sandler upped their target price on SmartFinancial from $37.00 to $39.50 and gave the company a “neutral” rating in a research report on Monday, October 27th. Zacks Research lowered SmartFinancial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Hovde Group raised their price objective on shares of SmartFinancial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of SmartFinancial from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, SmartFinancial has an average rating of “Hold” and an average target price of $39.10.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.