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 topic of several other reports. Raymond James lowered SmartFinancial from an outperform rating to a market perform rating in a research note on Monday, July 29th. They noted that the move was a valuation call. BidaskClub lowered SmartFinancial from a hold rating to a sell rating in a research note on Wednesday, September 25th. DA Davidson restated a neutral rating on shares of SmartFinancial in a research note on Monday, July 22nd. Finally, ValuEngine upgraded SmartFinancial from a sell rating to a hold rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. SmartFinancial currently has an average rating of Hold and an average target price of $23.00.
Shares of SmartFinancial stock opened at $20.63 on Tuesday. The business’s fifty day simple moving average is $20.48 and its 200 day simple moving average is $20.79. The firm has a market capitalization of $282.83 million, a P/E ratio of 12.59 and a beta of 0.71. 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.
SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). The business had revenue of $29.22 million for the quarter, compared to the consensus estimate of $23.22 million. SmartFinancial had a return on equity of 7.82% and a net margin of 20.91%. Analysts predict that SmartFinancial will post 1.61 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of SmartFinancial by 10.4% in the second quarter. BlackRock Inc. now owns 728,522 shares of the bank’s stock valued at $15,801,000 after buying an additional 68,391 shares during the period. Vanguard Group Inc. raised its stake in shares of SmartFinancial by 3.9% in the second quarter. Vanguard Group Inc. now owns 544,238 shares of the bank’s stock valued at $11,804,000 after buying an additional 20,644 shares during the period. Private Capital Management LLC raised its stake in shares of SmartFinancial by 41.5% in the second quarter. Private Capital Management LLC now owns 483,099 shares of the bank’s stock valued at $10,478,000 after buying an additional 141,770 shares during the period. Wasatch Advisors Inc. raised its stake in shares of SmartFinancial by 18.4% in the second quarter. Wasatch Advisors Inc. now owns 225,556 shares of the bank’s stock valued at $4,892,000 after buying an additional 35,048 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of SmartFinancial by 15.4% in the second quarter. Renaissance Technologies LLC now owns 150,184 shares of the bank’s stock valued at $3,257,000 after purchasing an additional 20,084 shares in the last quarter. Hedge funds and other institutional investors own 40.35% of the company’s stock.
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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