Brokerages Set SmartFinancial, Inc. (NASDAQ:SMBK) PT at $27.00

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $27.00.

SMBK has been the subject of a number of analyst reports. Stephens reissued an “overweight” rating and issued a $27.00 price objective on shares of SmartFinancial in a research report on Tuesday, July 23rd. Piper Sandler cut shares of SmartFinancial from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $26.00 to $28.00 in a research report on Wednesday, July 24th. Finally, Hovde Group increased their price target on shares of SmartFinancial from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th.

SmartFinancial Stock Performance

NASDAQ:SMBK opened at $29.02 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50-day moving average of $28.18 and a two-hundred day moving average of $24.12. The stock has a market cap of $491.02 million, a P/E ratio of 18.60 and a beta of 0.69. SmartFinancial has a 1-year low of $19.00 and a 1-year high of $30.21.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $68.89 million during the quarter, compared to analysts’ expectations of $40.32 million. SmartFinancial had a net margin of 9.93% and a return on equity of 6.55%. During the same period in the prior year, the company posted $0.52 EPS. On average, research analysts expect that SmartFinancial will post 1.99 earnings per share for the current fiscal year.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 1.10%. SmartFinancial’s payout ratio is 20.51%.

Institutional Investors Weigh In On SmartFinancial

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in SmartFinancial by 1.5% during the second quarter. Rhumbline Advisers now owns 24,147 shares of the bank’s stock worth $572,000 after acquiring an additional 361 shares during the period. SlateStone Wealth LLC raised its stake in SmartFinancial by 1.5% during the first quarter. SlateStone Wealth LLC now owns 33,927 shares of the bank’s stock worth $715,000 after acquiring an additional 500 shares during the period. Renaissance Technologies LLC raised its stake in SmartFinancial by 1.1% during the second quarter. Renaissance Technologies LLC now owns 140,274 shares of the bank’s stock worth $3,320,000 after acquiring an additional 1,500 shares during the period. Victory Capital Management Inc. raised its stake in SmartFinancial by 11.2% during the fourth quarter. Victory Capital Management Inc. now owns 23,300 shares of the bank’s stock worth $571,000 after acquiring an additional 2,350 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in SmartFinancial by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 96,021 shares of the bank’s stock worth $2,273,000 after acquiring an additional 3,810 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.