SmartFinancial (NASDAQ SMBK) opened at $22.88 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $186.80, a PE ratio of 28.25 and a beta of 0.25. SmartFinancial has a 52 week low of $17.17 and a 52 week high of $26.26.
Separately, Zacks Investment Research upgraded shares of SmartFinancial from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Saturday.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new position in SmartFinancial in the second quarter valued at about $303,000. The Manufacturers Life Insurance Company purchased a new position in SmartFinancial in the second quarter valued at about $177,000. Finally, State Street Corp purchased a new position in SmartFinancial in the second quarter valued at about $1,692,000. Hedge funds and other institutional investors own 39.79% of the company’s stock.
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SmartFinancial Company Profile
SmartFinancial, Inc, formerly Cornerstone Bancshares, Inc, is a bank holding company. The Company operates through its SmartBank subsidiary (The Bank). The principal business of the Bank consists of attracting deposits from the public and investing those funds, together with funds generated from operations and from principal and interest payments on loans.
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