Several other equities analysts have also commented on SMBK. Raymond James lowered shares of SmartFinancial from an outperform rating to a market perform rating in a research report on Monday, July 29th. They noted that the move was a valuation call. ValuEngine lowered shares of SmartFinancial from a hold rating to a sell rating in a research report on Wednesday, August 21st. Finally, DA Davidson reiterated a neutral rating on shares of SmartFinancial in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $23.00.
Shares of NASDAQ:SMBK opened at $21.44 on Wednesday. SmartFinancial has a fifty-two week low of $16.17 and a fifty-two week high of $24.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average price of $20.37 and a 200 day moving average price of $20.66. The firm has a market cap of $303.62 million, a price-to-earnings ratio of 13.52 and a beta of 0.63.
SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). SmartFinancial had a net margin of 20.91% and a return on equity of 7.82%. The business had revenue of $29.22 million for the quarter, compared to the consensus estimate of $23.22 million. As a group, research analysts predict that SmartFinancial will post 1.61 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. lifted its position in SmartFinancial by 46.8% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,445 shares of the bank’s stock valued at $292,000 after purchasing an additional 4,285 shares during the last quarter. Equitable Trust Co. lifted its position in SmartFinancial by 101.3% during the second quarter. Equitable Trust Co. now owns 31,124 shares of the bank’s stock valued at $675,000 after purchasing an additional 15,664 shares during the last quarter. Victory Capital Management Inc. lifted its position in SmartFinancial by 13.2% during the second quarter. Victory Capital Management Inc. now owns 74,600 shares of the bank’s stock valued at $1,618,000 after purchasing an additional 8,700 shares during the last quarter. Bank of America Corp DE lifted its position in SmartFinancial by 6.0% during the second quarter. Bank of America Corp DE now owns 40,594 shares of the bank’s stock valued at $880,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Private Capital Management LLC raised its stake in shares of SmartFinancial by 41.5% in the second quarter. Private Capital Management LLC now owns 483,099 shares of the bank’s stock valued at $10,478,000 after acquiring an additional 141,770 shares during the period. Institutional investors and hedge funds own 40.35% 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, Florida, and Georgia. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit.
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