SmartFinancial (NASDAQ:SMBK) Price Target Lowered to $24.00 at Keefe, Bruyette & Woods

SmartFinancial (NASDAQ:SMBK) had its target price decreased by Keefe, Bruyette & Woods from $26.00 to $24.00 in a research note published on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

A number of other brokerages have also recently weighed in on SMBK. Raymond James raised their price objective on shares of SmartFinancial from $24.00 to $28.00 and gave the stock a strong-buy rating in a research note on Friday, January 5th. Hovde Group lowered their target price on shares of SmartFinancial from $26.00 to $23.00 and set a market perform rating for the company in a research note on Wednesday. StockNews.com raised shares of SmartFinancial from a sell rating to a hold rating in a research note on Tuesday, January 9th. Piper Sandler raised shares of SmartFinancial from a neutral rating to an overweight rating and boosted their price objective for the company from $25.00 to $26.00 in a research note on Wednesday. Finally, Stephens reiterated an overweight rating and issued a $26.00 target price on shares of SmartFinancial in a report on Tuesday. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $25.40.

SmartFinancial Price Performance

SMBK stock opened at $20.92 on Wednesday. The firm has a 50 day moving average of $20.82 and a 200-day moving average of $21.93. SmartFinancial has a 12-month low of $18.86 and a 12-month high of $25.98. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a market cap of $356.90 million, a price-to-earnings ratio of 10.92 and a beta of 0.69.

SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Monday, January 22nd. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). SmartFinancial had a return on equity of 6.94% and a net margin of 10.65%. The business had revenue of $65.07 million for the quarter, compared to analysts’ expectations of $39.14 million. During the same period last year, the business earned $0.76 earnings per share. As a group, equities analysts expect that SmartFinancial will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at SmartFinancial

In other SmartFinancial news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of SmartFinancial stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.63, for a total transaction of $51,782.22. Following the transaction, the executive vice president now directly owns 19,091 shares of the company’s stock, valued at $412,938.33. The sale was disclosed in a filing with the SEC, which is available at this link. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of SmartFinancial

A number of hedge funds have recently made changes to their positions in SMBK. Mendon Capital Advisors Corp purchased a new stake in shares of SmartFinancial during the fourth quarter valued at approximately $1,872,000. Panagora Asset Management Inc. purchased a new stake in shares of SmartFinancial during the third quarter valued at approximately $758,000. Russell Investments Group Ltd. raised its stake in shares of SmartFinancial by 48.6% during the fourth quarter. Russell Investments Group Ltd. now owns 105,382 shares of the bank’s stock valued at $2,581,000 after purchasing an additional 34,488 shares during the period. Foundry Partners LLC raised its stake in shares of SmartFinancial by 44.9% during the fourth quarter. Foundry Partners LLC now owns 106,463 shares of the bank’s stock valued at $2,607,000 after purchasing an additional 32,968 shares during the period. Finally, Bailard Inc. purchased a new stake in shares of SmartFinancial during the third quarter valued at approximately $292,000. Hedge funds and other institutional investors 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.