SmartFinancial (NASDAQ:SMBK – Get Rating) issued its quarterly earnings data on Monday. The bank reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02, MarketWatch Earnings reports. The firm had revenue of $54.44 million during the quarter, compared to analyst estimates of $45.29 million. SmartFinancial had a return on equity of 9.30% and a net margin of 21.36%.
SmartFinancial Stock Performance
Shares of SMBK stock traded up $0.22 during trading on Tuesday, hitting $27.34. The company’s stock had a trading volume of 68,250 shares, compared to its average volume of 27,810. SmartFinancial has a 52 week low of $22.63 and a 52 week high of $30.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $28.17 and a 200-day moving average of $26.83. The company has a market cap of $461.72 million, a PE ratio of 12.54 and a beta of 0.75.
SmartFinancial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, November 10th. SmartFinancial’s dividend payout ratio is presently 12.84%.
Insider Activity at SmartFinancial
Institutional Investors Weigh In On SmartFinancial
Several institutional investors have recently made changes to their positions in SMBK. Raymond James Financial Services Advisors Inc. lifted its position in shares of SmartFinancial by 43.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,180 shares of the bank’s stock worth $286,000 after acquiring an additional 3,365 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of SmartFinancial by 17.1% in the first quarter. Bank of New York Mellon Corp now owns 73,735 shares of the bank’s stock worth $1,887,000 after buying an additional 10,757 shares in the last quarter. American Century Companies Inc. raised its position in shares of SmartFinancial by 28.2% in the first quarter. American Century Companies Inc. now owns 44,839 shares of the bank’s stock worth $1,147,000 after buying an additional 9,858 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of SmartFinancial by 58.5% in the first quarter. MetLife Investment Management LLC now owns 8,657 shares of the bank’s stock worth $221,000 after buying an additional 3,195 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of SmartFinancial by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 443,114 shares of the bank’s stock worth $11,335,000 after buying an additional 16,096 shares in the last quarter. Hedge funds and other institutional investors own 44.79% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on SMBK. Hovde Group lowered SmartFinancial from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a report on Wednesday, January 4th. Piper Sandler lowered SmartFinancial from an “overweight” rating to a “neutral” rating in a report on Tuesday. DA Davidson lowered SmartFinancial from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Monday, October 31st. Finally, StockNews.com assumed coverage on SmartFinancial in a report on Wednesday, October 12th. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.20.
SmartFinancial, Inc is a holding company, which engages in the provision of commercial banking services through SmartBank. The firm manages branches and loan production offices in a footprint spanning East Tennessee, Southwest Alabama, the Florida Panhandle, and North Georgia. It operates through the following portfolio segments: Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, and Consumer and Other.
- Get a free copy of the StockNews.com research report on SmartFinancial (SMBK)
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