Brokerages Set SmartFinancial, Inc. (NASDAQ:SMBK) Target Price at $29.50

Shares of SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) have received a consensus rating of "Hold" from the five research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $29.50.

A number of research firms recently issued reports on SMBK. Raymond James increased their price objective on SmartFinancial from $32.00 to $36.00 and gave the stock a "strong-buy" rating in a report on Wednesday, October 23rd. Stephens cut shares of SmartFinancial from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th. Finally, Hovde Group boosted their price objective on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a "market perform" rating in a research report on Wednesday, October 23rd.

SmartFinancial Stock Up 0.3 %

SMBK traded up $0.09 during trading on Monday, reaching $31.14. The company had a trading volume of 39,706 shares, compared to its average volume of 47,260. The business's fifty day moving average price is $34.25 and its 200 day moving average price is $29.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. SmartFinancial has a 12 month low of $19.00 and a 12 month high of $37.72. The company has a market cap of $527.08 million, a P/E ratio of 16.05 and a beta of 0.68.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last announced its earnings results on Monday, October 21st. The bank reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.05. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. 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 prior year, the business earned $0.43 EPS. Equities analysts anticipate that SmartFinancial will post 2.02 EPS for the current year.

SmartFinancial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Tuesday, November 12th. SmartFinancial's dividend payout ratio is currently 16.49%.

Insider Activity

In related news, Director John M. Presley sold 6,916 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $35.05, for a total value of $242,405.80. Following the completion of the sale, the director now directly owns 3,960 shares in the company, valued at approximately $138,798. This trade represents a 63.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 7,516 shares of company stock valued at $262,600. 7.68% of the stock is owned by insiders.

Institutional Trading of SmartFinancial

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its position in SmartFinancial by 78.6% during the third quarter. Barclays PLC now owns 22,848 shares of the bank's stock worth $666,000 after purchasing an additional 10,055 shares during the period. Geode Capital Management LLC boosted its holdings in shares of SmartFinancial by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 335,501 shares of the bank's stock worth $9,779,000 after buying an additional 1,307 shares during the period. XTX Topco Ltd acquired a new position in SmartFinancial in the 3rd quarter valued at about $272,000. Jane Street Group LLC grew its stake in 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 raised its holdings in 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 acquiring an additional 139,009 shares during the period. Institutional investors 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.