Analysts Set SmartFinancial, Inc. (NASDAQ:SMBK) PT at $29.50

Shares of SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $29.50.

A number of equities analysts have issued reports on the company. Raymond James upped their target price on SmartFinancial from $32.00 to $36.00 and gave the stock a "strong-buy" rating in a report on Wednesday, October 23rd. Hovde Group upped their target price on SmartFinancial from $28.00 to $32.50 and gave the stock a "market perform" rating in a report on Wednesday, October 23rd.

Institutional Investors Weigh In On SmartFinancial

A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its position in shares of SmartFinancial by 78.6% in the 3rd quarter. Barclays PLC now owns 22,848 shares of the bank's stock valued at $666,000 after buying an additional 10,055 shares during the last quarter. Geode Capital Management LLC grew its position in shares of SmartFinancial by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 335,501 shares of the bank's stock valued at $9,779,000 after buying an additional 1,307 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of SmartFinancial in the 3rd quarter valued at about $272,000. Jane Street Group LLC grew its position in shares of SmartFinancial by 6.9% in the 3rd quarter. Jane Street Group LLC now owns 14,925 shares of the bank's stock valued at $435,000 after buying an additional 967 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of SmartFinancial by 69.0% in the 3rd quarter. Wellington Management Group LLP now owns 340,418 shares of the bank's stock valued at $9,920,000 after buying an additional 139,009 shares during the last quarter. Institutional investors own 58.78% of the company's stock.

SmartFinancial Price Performance

Shares of SmartFinancial stock traded down $0.54 during trading on Thursday, reaching $35.64. 54,104 shares of the company's stock were exchanged, compared to its average volume of 46,996. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. SmartFinancial has a 1-year low of $19.00 and a 1-year high of $37.72. The company has a market cap of $603.39 million, a P/E ratio of 18.37 and a beta of 0.68. The firm's 50-day moving average price is $33.06 and its 200 day moving average price is $28.38.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.05. SmartFinancial had a return on equity of 6.81% and a net margin of 11.88%. The company had revenue of $73.10 million during the quarter, compared to analysts' expectations of $42.32 million. During the same quarter in the previous year, the firm earned $0.43 EPS. As a group, research analysts anticipate that SmartFinancial will post 2.02 earnings per share for the current year.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. SmartFinancial's dividend payout ratio (DPR) is presently 16.49%.

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.