SmartFinancial, Inc. (NASDAQ:SMBK) Stock Has Consensus Price Target of $50.42 According to Brokerages

SmartFinancial, Inc. (NASDAQ:SMBK – Get Free Report) has been given an average rating of “Moderate Buy” by the seven research firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $50.42.

Several equities research analysts have recently weighed in on SMBK shares. 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 report on Thursday, July 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $58.00 target price on shares of SmartFinancial in a report on Wednesday, July 22nd. Stephens lifted their target price on shares of SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, Benchmark upped their price target on shares of SmartFinancial from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th.

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Institutional Investors Weigh In On SmartFinancial

A number of institutional investors and hedge funds have recently made changes to their positions in SMBK. Equitable Trust Co. grew its stake in shares of SmartFinancial by 2.2% in the 1st quarter. Equitable Trust Co. now owns 11,475 shares of the bank’s stock valued at $448,000 after purchasing an additional 250 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of SmartFinancial by 0.6% in the first quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock valued at $1,821,000 after purchasing an additional 280 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of SmartFinancial by 13.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock worth $106,000 after purchasing an additional 316 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of SmartFinancial by 3.1% during the first quarter. Inspire Investing LLC now owns 13,061 shares of the bank’s stock worth $510,000 after purchasing an additional 393 shares during the period. Finally, Engineers Gate Manager LP lifted its holdings in shares of SmartFinancial by 17.7% during the second quarter. Engineers Gate Manager LP now owns 6,570 shares of the bank’s stock worth $308,000 after purchasing an additional 990 shares during the period. 58.78% of the stock is owned by hedge funds and other institutional investors.

SmartFinancial Stock Up 0.2%

Shares of NASDAQ SMBK opened at $51.08 on Friday. The stock has a market cap of $873.38 million, a PE ratio of 23.87 and a beta of 0.71. 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 has a 52-week low of $33.01 and a 52-week high of $54.14. The business has a 50-day moving average price of $51.49 and a 200 day moving average price of $45.98.

SmartFinancial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 31st were paid a $0.09 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.36 dividend on an annualized basis and a yield of 0.7%. SmartFinancial’s payout ratio is currently 10.62%.

SmartFinancial Company Profile

(Get Free Report)

SmartFinancial, Inc (NASDAQ: SMBK) is a bank holding company for SmartBank, a community bank that provides financial services to individuals, businesses and organizations. The company offers deposit accounts, consumer and commercial lending, mortgage services, treasury management, online and mobile banking, and wealth management services.

SmartBank was established in 2007 and has expanded through organic growth and acquisitions. Its banking operations serve communities across Tennessee, Alabama and Florida, with branches and lending activities focused primarily on the Southeast.

SmartFinancial is led by William G.

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