SmartFinancial (SMBK) Expected to Announce Earnings on Tuesday

SmartFinancial (NASDAQ:SMBK) is expected to release its results after the market closes on Tuesday, January 20th. Analysts expect SmartFinancial to post earnings of $0.80 per share and revenue of $51.3870 million for the quarter.

SmartFinancial Price Performance

SMBK stock opened at $39.44 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. SmartFinancial has a 1 year low of $26.31 and a 1 year high of $40.08. The stock has a market capitalization of $671.50 million, a PE ratio of 18.43 and a beta of 0.75. The company’s 50-day moving average is $37.30 and its 200-day moving average is $36.17.

SmartFinancial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, November 17th. SmartFinancial’s dividend payout ratio is currently 11.68%.

Analysts Set New Price Targets

Several research firms have weighed in on SMBK. Hovde Group raised their price target on SmartFinancial from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Zacks Research downgraded shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on shares of SmartFinancial from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, November 4th. Finally, Piper Sandler raised their price objective on shares of SmartFinancial from $37.00 to $39.50 and gave the company a “neutral” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, SmartFinancial currently has an average rating of “Hold” and a consensus target price of $39.10.

Insider Activity

In other news, Director Steven B. Tucker sold 10,625 shares of SmartFinancial stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $38.01, for a total value of $403,856.25. Following the transaction, the director owned 49,914 shares in the company, valued at approximately $1,897,231.14. The trade was a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.62% of the company’s stock.

Hedge Funds Weigh In On SmartFinancial

Several institutional investors and hedge funds have recently bought and sold shares of SMBK. AQR Capital Management LLC lifted its position in SmartFinancial by 150.9% in the first quarter. AQR Capital Management LLC now owns 51,972 shares of the bank’s stock valued at $1,615,000 after purchasing an additional 31,255 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in SmartFinancial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank’s stock valued at $295,000 after buying an additional 390 shares during the period. Jane Street Group LLC grew its holdings in SmartFinancial by 263.2% in the 1st quarter. Jane Street Group LLC now owns 42,385 shares of the bank’s stock worth $1,317,000 after acquiring an additional 30,715 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of SmartFinancial by 11.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 46,565 shares of the bank’s stock valued at $1,573,000 after acquiring an additional 4,639 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after acquiring an additional 472 shares during the last quarter. 58.78% of the stock is currently owned by institutional investors.

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.