SmartFinancial (NASDAQ:SMBK) Issues Quarterly Earnings Results

SmartFinancial (NASDAQ:SMBK - Get Free Report) issued its quarterly earnings data on Monday. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05, Yahoo Finance reports. SmartFinancial had a net margin of 9.93% and a return on equity of 6.55%. The firm had revenue of $73.10 million for the quarter, compared to analyst estimates of $42.32 million. During the same period in the previous year, the firm earned $0.43 EPS.

SmartFinancial Stock Up 3.0 %

Shares of SmartFinancial stock traded up $0.90 during trading hours on Tuesday, hitting $31.05. The company had a trading volume of 103,811 shares, compared to its average volume of 45,261. The company's 50-day moving average is $28.88 and its two-hundred day moving average is $25.25. SmartFinancial has a twelve month low of $19.00 and a twelve month high of $31.54. 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 company has a market cap of $529.81 million, a P/E ratio of 19.88 and a beta of 0.69.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.32 annualized dividend and a yield of 1.03%. SmartFinancial's dividend payout ratio is currently 20.51%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SMBK shares. Hovde Group increased their price objective on shares of SmartFinancial from $24.00 to $28.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 24th. Stephens reaffirmed an "overweight" rating and issued a $27.00 price objective on shares of SmartFinancial in a research note on Tuesday, July 23rd. Finally, Piper Sandler cut SmartFinancial from an "overweight" rating to a "neutral" rating and raised their target price for the company from $26.00 to $28.00 in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.00.

About SmartFinancial

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.