According to Zacks, “SmartFinancial, Inc. is a bank holding company which provide banking services to individuals and corporate through its subsidiaries SmartBank and Cornerstone Community Bank. It offers deposit products, loan products, e-banking services consisting of online bill payments, smart pay, e-statements, mobile banking as well as debit and credit cards. SmartFinancial, Inc. is based in Knoxville, Tennessee. “
SMBK has been the subject of a number of other reports. Raymond James cut SmartFinancial from an outperform rating to a market perform rating in a report on Monday, July 29th. They noted that the move was a valuation call. ValuEngine upgraded SmartFinancial from a sell rating to a hold rating in a report on Wednesday, October 2nd. BidaskClub lowered SmartFinancial from a hold rating to a sell rating in a research note on Wednesday, September 25th. Finally, DA Davidson reissued a neutral rating on shares of SmartFinancial in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. SmartFinancial has an average rating of Hold and a consensus price target of $23.00.
SMBK opened at $20.63 on Tuesday. The stock has a 50-day moving average price of $20.48 and a 200-day moving average price of $20.79. SmartFinancial has a 12-month low of $16.17 and a 12-month high of $23.89. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $282.83 million, a P/E ratio of 12.59 and a beta of 0.71.
SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). SmartFinancial had a return on equity of 7.82% and a net margin of 20.91%. The firm had revenue of $29.22 million during the quarter, compared to analysts’ expectations of $23.22 million. On average, equities research analysts predict that SmartFinancial will post 1.61 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMBK. Private Capital Management LLC lifted its stake in shares of SmartFinancial by 74.3% in the 1st quarter. Private Capital Management LLC now owns 341,329 shares of the bank’s stock valued at $6,455,000 after acquiring an additional 145,465 shares during the last quarter. BlackRock Inc. lifted its stake in shares of SmartFinancial by 10.4% in the 2nd quarter. BlackRock Inc. now owns 728,522 shares of the bank’s stock valued at $15,801,000 after acquiring an additional 68,391 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in shares of SmartFinancial by 18.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 225,556 shares of the bank’s stock valued at $4,892,000 after acquiring an additional 35,048 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of SmartFinancial by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 544,238 shares of the bank’s stock valued at $11,804,000 after acquiring an additional 20,644 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of SmartFinancial by 15.4% in the 2nd quarter. Renaissance Technologies LLC now owns 150,184 shares of the bank’s stock valued at $3,257,000 after acquiring an additional 20,084 shares during the last quarter. 40.35% of the stock is owned by institutional investors.
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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