SmartFinancial, Inc. (NASDAQ:SMBK) Receives $50.42 Consensus Price Target from Brokerages

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $50.4167.

A number of equities analysts recently weighed in on the stock. Stephens boosted their price target on shares of SmartFinancial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price target on SmartFinancial from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, July 23rd. Benchmark boosted their price objective on SmartFinancial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $58.00 price objective on shares of SmartFinancial in a report on Wednesday, July 22nd.

SmartFinancial Stock Performance

SMBK stock opened at $50.99 on Monday. The firm has a market cap of $871.79 million, a PE ratio of 23.83 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $50.32 and a 200-day moving average of $44.58. SmartFinancial has a 12-month low of $33.01 and a 12-month high of $54.14.

SmartFinancial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 31st were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.36 annualized dividend and a yield of 0.7%. SmartFinancial’s dividend payout ratio (DPR) is 10.62%.

Institutional Investors Weigh In On SmartFinancial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC boosted its stake in SmartFinancial by 375.5% in the 4th quarter. First Eagle Investment Management LLC now owns 152,167 shares of the bank’s stock worth $5,629,000 after purchasing an additional 120,167 shares during the period. Wellington Management Group LLP raised its holdings in shares of SmartFinancial by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 728,151 shares of the bank’s stock valued at $26,934,000 after acquiring an additional 80,639 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of SmartFinancial in the 2nd quarter valued at about $3,746,000. Goldman Sachs Group Inc. boosted its position in shares of SmartFinancial by 55.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 163,240 shares of the bank’s stock valued at $6,038,000 after acquiring an additional 58,560 shares during the last quarter. Finally, Algebris UK Ltd. purchased a new position in shares of SmartFinancial during the fourth quarter worth about $2,158,000. Institutional investors own 58.78% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.