SmartFinancial, Inc. (NASDAQ:SMBK) Stock Has Consensus Price Target of $52.60 According to Analysts

Key Points

• SmartFinancial has a “Moderate Buy” consensus rating from six analysts, split evenly between three buy and three hold recommendations. The average 12-month price target is $52.60, versus the stock’s reported opening price of $49.65.
• Analyst targets have varied, with Benchmark raising its target to $60 and Stephens, Raymond James, and Keefe, Bruyette & Woods issuing more cautious ratings or target adjustments.
• Institutional investors own 58.78% of SmartFinancial, while insiders own 6.93%; insiders have sold $217,864 worth of shares over the past three months.

Shares of SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $52.60.

A number of brokerages have weighed in on SMBK. Stephens upped their target price on SmartFinancial from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Raymond James Financial downgraded SmartFinancial from a "strong-buy" rating to an "outperform" rating and dropped their price target for the company from $58.00 to $56.00 in a research report on Wednesday, October 21st. Benchmark lifted their price target on SmartFinancial from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on SmartFinancial from $51.00 to $52.00 and gave the stock a "market perform" rating in a report on Wednesday, October 21st.

Insider Transactions at SmartFinancial

In other SmartFinancial news, Director Steven Tucker sold 3,500 shares of SmartFinancial stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $49.50, for a total transaction of $173,250.00. Following the completion of the sale, the director directly owned 47,222 shares in the company, valued at $2,337,489. The trade was a 6.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 4,360 shares of company stock worth $217,864 in the last three months. Insiders own 6.93% of the company's stock.

Hedge Funds Weigh In On SmartFinancial

Institutional investors have recently made changes to their positions in the stock. North Reef Capital Management LP raised its position in shares of SmartFinancial by 1.6% during the 1st quarter. North Reef Capital Management LP now owns 137,088 shares of the bank's stock valued at $5,357,000 after buying an additional 2,217 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of SmartFinancial by 14.9% during the 1st quarter. Bank of New York Mellon Corp now owns 80,719 shares of the bank's stock worth $3,154,000 after acquiring an additional 10,470 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of SmartFinancial by 147.6% during the 1st quarter. Bank of America Corp DE now owns 47,443 shares of the bank's stock worth $1,854,000 after acquiring an additional 28,280 shares during the last quarter. First Trust Advisors LP grew its position in SmartFinancial by 0.6% in the first quarter. First Trust Advisors LP now owns 46,590 shares of the bank's stock worth $1,821,000 after acquiring an additional 280 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in SmartFinancial by 10.4% in the first quarter. NewEdge Advisors LLC now owns 29,429 shares of the bank's stock worth $1,150,000 after acquiring an additional 2,778 shares in the last quarter. Institutional investors own 58.78% of the company's stock.

SmartFinancial Trading Up 0.6%

Shares of SMBK stock opened at $49.65 on Tuesday. The company has a market capitalization of $848.92 million, a PE ratio of 23.20 and a beta of 0.71. SmartFinancial has a 52-week low of $34.22 and a 52-week high of $54.14. The business's fifty day moving average is $50.72 and its 200 day moving average is $44.92. 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 Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank's products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.

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