SmartFinancial (NASDAQ:SMBK) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “SmartFinancial, Inc. is a bank holding company which provide banking services to individuals and corporate through its subsidiaries SmartBank and Cornerstone Community Bank. It offers deposit products, loan products, e-banking services consisting of online bill payments, smart pay, e-statements, mobile banking as well as debit and credit cards. SmartFinancial, Inc. is based in Knoxville, Tennessee. “

Several other equities research analysts have also weighed in on SMBK. Raymond James set a $24.00 target price on SmartFinancial and gave the stock a “buy” rating in a research report on Thursday. ValuEngine lowered SmartFinancial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Stephens reissued a “hold” rating and set a $23.00 target price on shares of SmartFinancial in a research report on Friday. Hovde Group raised their target price on SmartFinancial from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday, June 29th. Finally, BidaskClub lowered SmartFinancial from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $25.60.

SMBK stock opened at $21.15 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $268.71 million, a price-to-earnings ratio of 14.39 and a beta of 0.10. SmartFinancial has a 1 year low of $19.49 and a 1 year high of $27.69.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings results on Wednesday, October 24th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). SmartFinancial had a net margin of 13.11% and a return on equity of 7.89%. The company had revenue of $20.72 million during the quarter, compared to analyst estimates of $21.40 million. Equities analysts forecast that SmartFinancial will post 1.53 EPS for the current fiscal year.

In related news, insider William L. Yoder sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $24.25, for a total transaction of $485,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James Beaumont Wicks purchased 10,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were purchased at an average price of $24.74 per share, for a total transaction of $253,585.00. The disclosure for this purchase can be found here. 11.96% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY purchased a new position in SmartFinancial during the 2nd quarter worth approximately $106,000. Rhumbline Advisers purchased a new position in SmartFinancial during the 2nd quarter worth approximately $275,000. First Trust Advisors LP purchased a new position in SmartFinancial during the 2nd quarter worth approximately $613,000. MetLife Investment Advisors LLC purchased a new position in SmartFinancial during the 2nd quarter worth approximately $150,000. Finally, Dimensional Fund Advisors LP purchased a new position in SmartFinancial during the 1st quarter worth approximately $1,083,000. Hedge funds and other institutional investors own 36.49% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc operates as the bank holding company for the SmartBank that provides various financial services to individuals and corporate customers in the United States. 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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