SmartFinancial (SMBK) Expected to Announce Earnings on Tuesday

SmartFinancial (NASDAQ:SMBK) is anticipated to release its results after the market closes on Tuesday, October 21st. Analysts expect SmartFinancial to post earnings of $0.74 per share and revenue of $51.3650 million for the quarter.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings results on Monday, July 21st. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. SmartFinancial had a net margin of 12.67% and a return on equity of 7.33%. During the same period last year, the company earned $0.46 earnings per share. On average, analysts expect SmartFinancial to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

SmartFinancial Price Performance

SMBK stock opened at $34.52 on Friday. SmartFinancial has a one year low of $26.31 and a one year high of $37.92. The company has a market capitalization of $587.53 million, a PE ratio of 16.13 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The company’s fifty day moving average price is $35.95 and its 200-day moving average price is $33.42.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Friday, August 8th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, August 8th. SmartFinancial’s dividend payout ratio (DPR) is currently 12.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of SmartFinancial from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $44.00 target price (up from $42.00) on shares of SmartFinancial in a research note on Thursday, July 24th. Zacks Research lowered shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Hovde Group raised their price target on shares of SmartFinancial from $37.50 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.25.

Institutional Trading of SmartFinancial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after buying an additional 472 shares during the period. Tower Research Capital LLC TRC grew its position in SmartFinancial by 173.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock valued at $64,000 after buying an additional 1,202 shares during the period. Lazard Asset Management LLC acquired a new stake in SmartFinancial during the second quarter valued at $128,000. The Manufacturers Life Insurance Company acquired a new stake in SmartFinancial during the second quarter valued at $200,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in SmartFinancial during the second quarter valued at $207,000. Institutional investors and hedge funds 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.