SmartFinancial (SMBK) Expected to Announce Earnings on Tuesday

SmartFinancial (NASDAQ:SMBK) will likely be posting 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 issued its quarterly earnings data on Monday, July 21st. The bank reported $0.69 earnings per share (EPS) 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 in the prior year, the business posted $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 Trading Up 0.8%

Shares of SMBK stock opened at $34.52 on Monday. SmartFinancial has a 52-week low of $26.31 and a 52-week high of $37.92. 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 has a 50-day simple moving average of $35.95 and a two-hundred day simple moving average of $33.45. The company has a market capitalization of $587.53 million, a price-to-earnings ratio of 16.13 and a beta of 0.80.

SmartFinancial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 8th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, August 8th. SmartFinancial’s dividend payout ratio is presently 12.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Zacks Research downgraded shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Raymond James Financial reissued a “strong-buy” rating and set a $44.00 target price (up from $42.00) on shares of SmartFinancial in a research report on Thursday, July 24th. Keefe, Bruyette & Woods increased their target price on shares of SmartFinancial from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Finally, Hovde Group increased their target price on shares of SmartFinancial from $37.50 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.25.

Institutional Trading of SmartFinancial

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of SmartFinancial by 46.0% during the 2nd 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 in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of SmartFinancial by 173.4% during the 2nd 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 in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of SmartFinancial during the 2nd quarter valued at approximately $128,000. The Manufacturers Life Insurance Company purchased a new stake in shares of SmartFinancial during the 2nd quarter valued at approximately $200,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of SmartFinancial during the 2nd quarter valued at approximately $207,000. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

About SmartFinancial

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.