SmartFinancial (NASDAQ:SMBK) Stock Price Target Raised at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised SmartFinancial’s price target from $51 to $52 while maintaining a “market perform” rating, implying 5.36% upside from the reported $49.35 share price.
• Analyst sentiment remains mixed: SmartFinancial has a consensus “Hold” rating and an average price target of $50.42, based on three Buy and four Hold recommendations.
• Shares fell 1.5% to $49.35 during Wednesday trading, while institutional investors owned 58.78% of the company’s stock.

SmartFinancial (NASDAQ:SMBK - Get Free Report) had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $51.00 to $52.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 5.36% from the stock's current price.

Several other research analysts also recently commented on SMBK. Benchmark lifted their price objective on SmartFinancial from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Stephens increased their target price on SmartFinancial from $45.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Finally, Raymond James Financial lowered SmartFinancial from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $58.00 to $56.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $50.42.

SmartFinancial Trading Down 1.5%

SmartFinancial stock traded down $0.77 during mid-day trading on Wednesday, hitting $49.35. The company's stock had a trading volume of 81,977 shares, compared to its average volume of 94,865. The business has a 50 day moving average price of $51.00 and a 200-day moving average price of $46.99. 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 $34.22 and a 12 month high of $54.14. The stock has a market cap of $843.87 million, a price-to-earnings ratio of 23.07 and a beta of 0.71.

Institutional Investors Weigh In On SmartFinancial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of SmartFinancial in the second quarter worth about $3,746,000. Bank of America Corp DE raised its position in SmartFinancial by 147.6% during the 1st quarter. Bank of America Corp DE now owns 47,443 shares of the bank's stock valued at $1,854,000 after purchasing an additional 28,280 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in SmartFinancial during the 1st quarter valued at approximately $792,000. Principal Financial Group Inc. bought a new position in SmartFinancial during the 1st quarter valued at approximately $708,000. Finally, Hsbc Holdings PLC raised its position in SmartFinancial by 176.1% during the 4th quarter. Hsbc Holdings PLC now owns 22,325 shares of the bank's stock valued at $825,000 after purchasing an additional 14,240 shares during the last quarter. 58.78% of the stock is currently owned by institutional investors.

About SmartFinancial

SmartFinancial, Inc NASDAQ: SMBK is a bank holding company for SmartBank, a community bank that provides financial services to individuals, businesses and organizations. The company offers deposit accounts, consumer and commercial lending, mortgage services, treasury management, online and mobile banking, and wealth management services.

SmartBank was established in 2007 and has expanded through organic growth and acquisitions. Its banking operations serve communities across Tennessee, Alabama and Florida, with branches and lending activities focused primarily on the Southeast.

SmartFinancial is led by William G.

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