SmartFinancial (NASDAQ:SMBK) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

SmartFinancial (NASDAQ:SMBK) posted its earnings results on Monday. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05, Yahoo Finance reports. SmartFinancial had a net margin of 9.93% and a return on equity of 6.55%. The company had revenue of $73.10 million during the quarter, compared to analysts’ expectations of $42.32 million. During the same quarter last year, the company posted $0.43 EPS.

SmartFinancial Stock Performance

NASDAQ SMBK opened at $32.11 on Thursday. SmartFinancial has a 1 year low of $19.00 and a 1 year high of $32.33. The firm has a market capitalization of $547.89 million, a price-to-earnings ratio of 20.58 and a beta of 0.69. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The firm’s 50 day simple moving average is $29.07 and its 200 day simple moving average is $25.37.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SMBK shares. Raymond James raised their price objective on shares of SmartFinancial from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. Stephens reiterated an “overweight” rating and set a $27.00 price objective on shares of SmartFinancial in a research report on Tuesday, July 23rd. Piper Sandler lowered shares of SmartFinancial from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $26.00 to $28.00 in a research report on Wednesday, July 24th. Finally, Hovde Group raised their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a report on Wednesday. Four research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.50.

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.