SmartFinancial, Inc. (NASDAQ:SMBK – Get Free Report) has received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $50.4167.
Several equities research analysts recently weighed in on SMBK shares. Benchmark increased their target price on SmartFinancial from $56.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday. Stephens lifted their price target on SmartFinancial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $58.00 price objective on shares of SmartFinancial in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on SmartFinancial from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd.
Get Our Latest Stock Analysis on SMBK
Insider Buying and Selling at SmartFinancial
Institutional Trading of SmartFinancial
Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in SmartFinancial by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 846,978 shares of the bank’s stock valued at $30,263,000 after purchasing an additional 26,373 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of SmartFinancial by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 838,797 shares of the bank’s stock valued at $31,027,000 after buying an additional 2,268 shares during the period. Wellington Management Group LLP increased its stake in shares of SmartFinancial by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 728,151 shares of the bank’s stock valued at $26,934,000 after buying an additional 80,639 shares during the period. Renaissance Technologies LLC raised its holdings in shares of SmartFinancial by 3.2% during the fourth quarter. Renaissance Technologies LLC now owns 178,374 shares of the bank’s stock valued at $6,598,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of SmartFinancial by 55.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 163,240 shares of the bank’s stock valued at $6,038,000 after acquiring an additional 58,560 shares in the last quarter. 58.78% of the stock is owned by institutional investors.
SmartFinancial Stock Performance
NASDAQ SMBK opened at $50.69 on Thursday. The company has a 50-day simple moving average of $48.75 and a two-hundred day simple moving average of $43.61. SmartFinancial has a 12-month low of $33.01 and a 12-month high of $54.14. The firm has a market cap of $866.71 million, a price-to-earnings ratio of 23.69 and a beta of 0.69. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.
SmartFinancial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 31st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, July 31st. SmartFinancial’s dividend payout ratio is currently 10.62%.
About SmartFinancial
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.
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