SmartFinancial's (SMBK) Equal Weight Rating Reaffirmed at Stephens

SmartFinancial (NASDAQ:SMBK - Get Free Report)'s stock had its "equal weight" rating reiterated by investment analysts at Stephens in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $31.00 price objective on the bank's stock. Stephens' price objective would indicate a potential upside of 2.93% from the company's current price.

Separately, Raymond James reiterated a "strong-buy" rating and set a $42.00 price target (up previously from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $33.70.

SmartFinancial Stock Performance

SmartFinancial stock traded down $0.13 during trading on Tuesday, hitting $30.12. The stock had a trading volume of 36,400 shares, compared to its average volume of 53,061. The stock's 50 day moving average is $30.99 and its two-hundred day moving average is $32.67. SmartFinancial has a 1 year low of $20.39 and a 1 year high of $37.72. The stock has a market cap of $512.55 million, a price-to-earnings ratio of 14.07 and a beta of 0.59. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

Insider Activity

In related news, Chairman Wesley Miller Welborn acquired 1,162 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average cost of $34.75 per share, for a total transaction of $40,379.50. Following the completion of the transaction, the chairman now owns 96,938 shares in the company, valued at approximately $3,368,595.50. This trade represents a 1.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.62% of the stock is owned by company insiders.

Institutional Trading of SmartFinancial

Several institutional investors and hedge funds have recently made changes to their positions in SMBK. State Street Corp raised its position in SmartFinancial by 3.3% during the third quarter. State Street Corp now owns 336,147 shares of the bank's stock valued at $9,795,000 after purchasing an additional 10,623 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of SmartFinancial by 6.9% in the third quarter. Jane Street Group LLC now owns 14,925 shares of the bank's stock worth $435,000 after buying an additional 967 shares during the period. Barclays PLC boosted its holdings in SmartFinancial by 78.6% during the 3rd quarter. Barclays PLC now owns 22,848 shares of the bank's stock valued at $666,000 after acquiring an additional 10,055 shares during the period. Geode Capital Management LLC grew its position in 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 acquiring an additional 1,307 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in SmartFinancial by 32.1% in the 4th quarter. SG Americas Securities LLC now owns 7,292 shares of the bank's stock worth $226,000 after purchasing an additional 1,771 shares during the period. Hedge funds and other institutional investors own 58.78% of the company's stock.

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.