Zacks: SmartFinancial Inc (SMBK) Given Average Rating of “Buy” by Analysts
Shares of SmartFinancial Inc (NASDAQ:SMBK) have received a consensus broker rating score of 2.00 (Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation.
Brokers have set a 12-month consensus price objective of $25.00 for the company and are anticipating that the company will post $0.35 EPS for the current quarter, according to Zacks. Zacks has also assigned SmartFinancial an industry rank of 134 out of 265 based on the ratings given to related companies.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of SmartFinancial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Wednesday, March 14th. BidaskClub upgraded shares of SmartFinancial from a “hold” rating to a “buy” rating in a research report on Tuesday, March 13th.
SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings results on Wednesday, January 31st. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.15. SmartFinancial had a net margin of 8.80% and a return on equity of 6.44%. The firm had revenue of $16.92 million during the quarter, compared to analysts’ expectations of $14.60 million. analysts expect that SmartFinancial will post 1.5 EPS for the current year.
In other SmartFinancial news, Chairman Wesley Miller Welborn purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, March 6th. The stock was purchased at an average cost of $21.70 per share, for a total transaction of $325,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Beaumont Wicks acquired 3,000 shares of SmartFinancial stock in a transaction dated Monday, March 5th. The stock was purchased at an average cost of $21.85 per share, for a total transaction of $65,550.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 34,480 shares of company stock valued at $762,090. Corporate insiders own 13.87% of the company’s stock.
Several large investors have recently bought and sold shares of SMBK. TIAA CREF Investment Management LLC bought a new stake in shares of SmartFinancial in the 2nd quarter valued at $468,000. New York State Common Retirement Fund bought a new position in SmartFinancial during the second quarter worth $184,000. Northern Trust Corp bought a new position in SmartFinancial during the second quarter worth $1,686,000. Vanguard Group Inc. boosted its stake in SmartFinancial by 41.6% during the second quarter. Vanguard Group Inc. now owns 225,156 shares of the bank’s stock worth $5,377,000 after acquiring an additional 66,143 shares in the last quarter. Finally, State Street Corp bought a new position in SmartFinancial during the second quarter worth $1,692,000. 31.30% of the stock is currently owned by institutional investors.
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SmartFinancial, Inc, formerly Cornerstone Bancshares, Inc, is a bank holding company. The Company operates through its SmartBank subsidiary (The Bank). The principal business of the Bank consists of attracting deposits from the public and investing those funds, together with funds generated from operations and from principal and interest payments on loans.
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