SmartFinancial (NASDAQ:SMBK) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, September 18th, BidAskClub reports.
Several other equities analysts have also commented on SMBK. DA Davidson reaffirmed a “neutral” rating on shares of SmartFinancial in a research report on Monday, July 22nd. Raymond James lowered shares of SmartFinancial from an “outperform” rating to a “market perform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of SmartFinancial from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $23.00.
Shares of SMBK traded up $0.21 on Wednesday, hitting $20.63. 22,815 shares of the stock traded hands, compared to its average volume of 34,478. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $282.83 million, a P/E ratio of 13.31 and a beta of 0.71. The stock’s 50 day moving average is $20.48 and its two-hundred day moving average is $20.79. SmartFinancial has a 1 year low of $16.17 and a 1 year high of $23.89.
SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.40 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 company had revenue of $29.22 million for the quarter, compared to analyst estimates of $23.22 million. Research analysts forecast that SmartFinancial will post 1.61 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its stake in SmartFinancial by 9.0% during the 1st quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock valued at $251,000 after acquiring an additional 1,100 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of SmartFinancial in the 2nd quarter worth about $26,000. BNP Paribas Arbitrage SA lifted its position in shares of SmartFinancial by 519.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the bank’s stock worth $45,000 after buying an additional 1,985 shares during the last quarter. Bank of America Corp DE lifted its position in shares of SmartFinancial by 6.0% in the 2nd quarter. Bank of America Corp DE now owns 40,594 shares of the bank’s stock worth $880,000 after buying an additional 2,286 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SmartFinancial by 10.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,145 shares of the bank’s stock worth $633,000 after buying an additional 2,705 shares during the last quarter. Hedge funds and other institutional investors own 40.35% of the company’s stock.
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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