SmartFinancial (NASDAQ:SMBK) Shares Cross Below 50-Day Moving Average – Time to Sell?

SmartFinancial, Inc. (NASDAQ:SMBK) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $51.00 and traded as low as $50.02. SmartFinancial shares last traded at $50.3440, with a volume of 233,438 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SMBK. Raymond James Financial lowered shares of SmartFinancial from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $58.00 to $56.00 in a research report on Wednesday. Stephens upped their price objective on shares of SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods upped their price objective on shares of SmartFinancial from $51.00 to $52.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Benchmark increased their price objective on shares of SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, SmartFinancial presently has a consensus rating of “Hold” and a consensus target price of $50.42.

SmartFinancial Stock Performance

The firm has a 50-day moving average of $50.84 and a two-hundred day moving average of $47.12. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $839.85 million, a PE ratio of 22.95 and a beta of 0.71.

Institutional Trading of SmartFinancial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Equitable Trust Co. boosted its stake in shares of SmartFinancial by 2.2% during the 1st quarter. Equitable Trust Co. now owns 11,475 shares of the bank’s stock worth $448,000 after acquiring an additional 250 shares in the last quarter. First Trust Advisors LP grew its position in shares of SmartFinancial by 0.6% during the 1st quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock valued at $1,821,000 after acquiring an additional 280 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of SmartFinancial by 13.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock valued at $106,000 after purchasing an additional 316 shares in the last quarter. Inspire Investing LLC grew its holdings in SmartFinancial by 3.1% in the first quarter. Inspire Investing LLC now owns 13,061 shares of the bank’s stock valued at $510,000 after purchasing an additional 393 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in SmartFinancial by 1,374.1% in the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock valued at $42,000 after purchasing an additional 797 shares during the period. Institutional investors and hedge funds own 58.78% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank’s products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.