SmartFinancial (NASDAQ:SMBK) Price Target Raised to $36.00 at Raymond James

SmartFinancial (NASDAQ:SMBK - Free Report) had its price objective raised by Raymond James from $32.00 to $36.00 in a report published on Wednesday, Benzinga reports. They currently have a strong-buy rating on the bank's stock.

Several other research analysts also recently commented on the company. Piper Sandler downgraded SmartFinancial from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $26.00 to $28.00 in a research report on Wednesday, July 24th. Stephens reaffirmed an "overweight" rating and issued a $27.00 price target on shares of SmartFinancial in a research report on Tuesday, July 23rd. Finally, Hovde Group lifted their price target on SmartFinancial from $28.00 to $32.50 and gave the stock a "market perform" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $29.50.

SmartFinancial Stock Performance

SMBK traded up $1.06 on Wednesday, hitting $32.11. The company had a trading volume of 108,532 shares, compared to its average volume of 45,570. The company's fifty day moving average price is $29.07 and its 200 day moving average price is $25.37. SmartFinancial has a 1-year low of $19.00 and a 1-year high of $32.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $547.89 million, a price-to-earnings ratio of 20.58 and a beta of 0.69.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last posted its earnings results on Monday, October 21st. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. The firm had revenue of $73.10 million during the quarter, compared to analyst estimates of $42.32 million. During the same period in the previous year, the company earned $0.43 EPS. Equities analysts predict that SmartFinancial will post 1.97 earnings per share for the current fiscal year.

SmartFinancial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, August 9th. SmartFinancial's dividend payout ratio is presently 20.51%.

Institutional Trading of SmartFinancial

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of SmartFinancial during the third quarter valued at approximately $161,000. Acadian Asset Management LLC bought a new stake in shares of SmartFinancial during the first quarter valued at approximately $271,000. Creative Planning bought a new stake in shares of SmartFinancial during the third quarter valued at approximately $394,000. Inspire Investing LLC bought a new stake in shares of SmartFinancial during the third quarter valued at approximately $415,000. Finally, BNP Paribas Financial Markets increased its position in shares of SmartFinancial by 429.0% during the first quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank's stock valued at $499,000 after purchasing an additional 19,210 shares during the period. 58.78% of the stock is currently owned by institutional investors.

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.