Brokerages expect that SmartFinancial Inc (NASDAQ:SMBK) will post sales of $23.61 million for the current quarter, according to Zacks. Two analysts have issued estimates for SmartFinancial’s earnings. The highest sales estimate is $24.01 million and the lowest is $23.20 million. SmartFinancial reported sales of $20.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.9%. The company is expected to announce its next earnings results after the market closes on Monday, October 21st.
On average, analysts expect that SmartFinancial will report full-year sales of $93.29 million for the current financial year, with estimates ranging from $91.78 million to $94.80 million. For the next year, analysts forecast that the business will report sales of $98.90 million, with estimates ranging from $94.73 million to $103.06 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow SmartFinancial.
SmartFinancial (NASDAQ:SMBK) last released its earnings results on Wednesday, July 24th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). SmartFinancial had a return on equity of 7.82% and a net margin of 20.91%. The business had revenue of $29.22 million for the quarter, compared to analysts’ expectations of $23.22 million.
SMBK has been the topic of a number of research reports. Raymond James downgraded 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. DA Davidson reaffirmed a “neutral” rating on shares of SmartFinancial in a research note on Monday, July 22nd. ValuEngine raised SmartFinancial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub downgraded SmartFinancial from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Finally, Zacks Investment Research raised SmartFinancial from a “sell” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $23.00.
A number of large investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. increased its stake in SmartFinancial by 46.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,445 shares of the bank’s stock worth $292,000 after acquiring an additional 4,285 shares during the last quarter. Equitable Trust Co. boosted its holdings in shares of SmartFinancial by 101.3% in the 2nd quarter. Equitable Trust Co. now owns 31,124 shares of the bank’s stock worth $675,000 after purchasing an additional 15,664 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of SmartFinancial by 13.2% in the 2nd quarter. Victory Capital Management Inc. now owns 74,600 shares of the bank’s stock worth $1,618,000 after purchasing an additional 8,700 shares during the period. Bank of America Corp DE boosted its holdings in SmartFinancial by 6.0% during the 2nd quarter. Bank of America Corp DE now owns 40,594 shares of the bank’s stock valued at $880,000 after acquiring an additional 2,286 shares during the period. Finally, Private Capital Management LLC boosted its holdings in SmartFinancial by 41.5% during the 2nd quarter. Private Capital Management LLC now owns 483,099 shares of the bank’s stock valued at $10,478,000 after acquiring an additional 141,770 shares during the period. 40.35% of the stock is currently owned by institutional investors and hedge funds.
SmartFinancial stock traded up $0.16 during midday trading on Friday, reaching $20.58. 885 shares of the stock traded hands, compared to its average volume of 35,200. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.18. SmartFinancial has a 12 month low of $16.17 and a 12 month high of $23.91. The stock’s fifty day moving average is $20.46 and its 200-day moving average is $20.78. The stock has a market cap of $290.30 million, a P/E ratio of 13.35 and a beta of 0.71.
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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