Stephens Reaffirms Overweight Rating for SmartFinancial (NASDAQ:SMBK)

Stephens restated their overweight rating on shares of SmartFinancial (NASDAQ:SMBK) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $26.00 price target on the bank’s stock.

SMBK has been the topic of several other research reports. StockNews.com raised shares of SmartFinancial from a sell rating to a hold rating in a research report on Tuesday, January 9th. Raymond James raised their target price on shares of SmartFinancial from $24.00 to $28.00 and gave the stock a strong-buy rating in a report on Friday, January 5th. Finally, Keefe, Bruyette & Woods raised their target price on shares of SmartFinancial from $25.00 to $26.00 and gave the stock a market perform rating in a report on Wednesday, January 24th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $25.40.

SmartFinancial Trading Up 0.3 %

Shares of SmartFinancial stock opened at $20.84 on Tuesday. SmartFinancial has a fifty-two week low of $18.86 and a fifty-two week high of $25.98. The firm has a market cap of $355.53 million, a PE ratio of 13.36 and a beta of 0.69. The business’s fifty day moving average is $20.78 and its two-hundred day moving average is $21.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.12.

SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings data on Monday, January 22nd. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $65.07 million for the quarter, compared to analyst estimates of $39.14 million. SmartFinancial had a return on equity of 6.94% and a net margin of 10.65%. During the same quarter in the previous year, the company earned $0.76 earnings per share. Analysts anticipate that SmartFinancial will post 1.91 earnings per share for the current year.

Insider Buying and Selling at SmartFinancial

In other SmartFinancial news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.63, for a total value of $51,782.22. Following the sale, the executive vice president now owns 19,091 shares in the company, valued at $412,938.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund increased its stake in shares of SmartFinancial by 68.0% during the third quarter. New York State Common Retirement Fund now owns 7,430 shares of the bank’s stock valued at $159,000 after acquiring an additional 3,008 shares during the period. SG Americas Securities LLC acquired a new position in SmartFinancial in the third quarter worth approximately $159,000. 1492 Capital Management LLC acquired a new position in SmartFinancial in the fourth quarter worth approximately $242,000. Bailard Inc. acquired a new position in SmartFinancial in the third quarter worth approximately $292,000. Finally, Equitable Trust Co. grew its position in SmartFinancial by 7.1% in the fourth quarter. Equitable Trust Co. now owns 16,525 shares of the bank’s stock worth $405,000 after buying an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.