Stephens Reaffirms Overweight Rating for SmartFinancial (NASDAQ:SMBK)

Stephens reiterated their overweight rating on shares of SmartFinancial (NASDAQ:SMBK) in a research report sent to investors on Tuesday, Benzinga reports. Stephens currently has a $27.00 price objective on the bank’s stock.

A number of other research firms also recently weighed in on SMBK. Piper Sandler upgraded SmartFinancial from a neutral rating to an overweight rating and raised their price target for the company from $25.00 to $26.00 in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods decreased their price target on SmartFinancial from $26.00 to $24.00 and set a market perform rating for the company in a research note on Wednesday, April 24th. Finally, Hovde Group reduced their target price on SmartFinancial from $26.00 to $23.00 and set a market perform rating for the company in a research note on Wednesday, April 24th. 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 company. According to data from MarketBeat.com, SmartFinancial currently has an average rating of Moderate Buy and an average price target of $27.00.

SmartFinancial Stock Up 1.6 %

Shares of SmartFinancial stock opened at $27.84 on Tuesday. The business’s 50 day simple moving average is $23.66 and its 200 day simple moving average is $22.33. SmartFinancial has a 52-week low of $19.00 and a 52-week high of $28.65. The firm has a market cap of $474.95 million, a PE ratio of 17.85 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings results 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 firm had revenue of $68.89 million during the quarter, compared to the consensus estimate of $40.32 million. SmartFinancial had a return on equity of 6.60% and a net margin of 9.93%. During the same period last year, the company earned $0.52 earnings per share. On average, analysts predict that SmartFinancial will post 1.85 earnings per share for the current fiscal year.

Insider Transactions at SmartFinancial

In other news, Director John M. Presley sold 7,500 shares of SmartFinancial stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $22.65, for a total transaction of $169,875.00. Following the completion of the transaction, the director now directly owns 35,073 shares in the company, valued at approximately $794,403.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.68% of the stock is currently owned by corporate insiders.

Institutional Trading of SmartFinancial

Several institutional investors have recently added to or reduced their stakes in SMBK. SG Americas Securities LLC boosted its position in shares of SmartFinancial by 19.8% in the fourth quarter. SG Americas Securities LLC now owns 8,916 shares of the bank’s stock valued at $218,000 after acquiring an additional 1,474 shares during the period. 1492 Capital Management LLC bought a new stake in shares of SmartFinancial in the fourth quarter valued at about $242,000. Acadian Asset Management LLC bought a new stake in shares of SmartFinancial in the first quarter valued at about $271,000. Equitable Trust Co. boosted its position in shares of SmartFinancial by 7.1% in the fourth quarter. Equitable Trust Co. now owns 16,525 shares of the bank’s stock valued at $405,000 after acquiring an additional 1,100 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of SmartFinancial by 11.2% in the fourth quarter. Victory Capital Management Inc. now owns 23,300 shares of the bank’s stock valued at $571,000 after acquiring an additional 2,350 shares during the period. 58.78% of the stock is currently owned by institutional investors.

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.