SmartFinancial, Inc. (NASDAQ:SMBK) Stock Has Consensus Target Price of $52.60 According to Brokerages

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $52.60.

A number of research analysts recently issued reports on SMBK shares. Benchmark raised their price target on SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Raymond James Financial cut SmartFinancial from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $58.00 to $56.00 in a research note on Wednesday, October 21st. Stephens increased their price objective on SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on SmartFinancial from $51.00 to $52.00 and gave the company a “market perform” rating in a report on Wednesday, October 21st.

Insider Buying and Selling

In related news, Director Steven Tucker sold 3,500 shares of the company’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $49.50, for a total value of $173,250.00. Following the completion of the sale, the director owned 47,222 shares in the company, valued at $2,337,489. This represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 3,930 shares of company stock valued at $195,182. 6.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Equitable Trust Co. lifted its position in SmartFinancial by 2.2% during the 1st quarter. Equitable Trust Co. now owns 11,475 shares of the bank’s stock worth $448,000 after acquiring an additional 250 shares during the period. First Trust Advisors LP grew its stake in shares of SmartFinancial by 0.6% in the 1st quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock valued at $1,821,000 after purchasing an additional 280 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of SmartFinancial by 13.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock valued at $106,000 after purchasing an additional 316 shares during the last quarter. Inspire Investing LLC grew its stake in shares of SmartFinancial by 3.1% in the 1st quarter. Inspire Investing LLC now owns 13,061 shares of the bank’s stock valued at $510,000 after purchasing an additional 393 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of SmartFinancial by 1,374.1% in the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock valued at $42,000 after purchasing an additional 797 shares during the period. 58.78% of the stock is owned by hedge funds and other institutional investors.

SmartFinancial Stock Up 1.8%

SMBK opened at $49.35 on Tuesday. SmartFinancial has a one year low of $34.22 and a one year high of $54.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $843.82 million, a P/E ratio of 23.06 and a beta of 0.71. The business’s 50-day simple moving average is $50.47 and its 200-day simple moving average is $45.19.

SmartFinancial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 16th. SmartFinancial’s payout ratio is presently 9.78%.

About SmartFinancial

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank’s products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.