SmartFinancial (NASDAQ:SMBK) Price Target Raised to $40.00

SmartFinancial (NASDAQ:SMBK - Get Free Report) had its target price boosted by research analysts at Hovde Group from $37.50 to $40.00 in a report released on Wednesday, MarketBeat reports. The brokerage presently has a "market perform" rating on the bank's stock. Hovde Group's price objective suggests a potential upside of 12.95% from the stock's previous close.

SMBK has been the subject of several other reports. Stephens reissued an "equal weight" rating and set a $31.00 price target on shares of SmartFinancial in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods dropped their price objective on SmartFinancial from $37.00 to $35.00 and set a "market perform" rating for the company in a report on Thursday, April 24th.

SmartFinancial Trading Down 0.5%

Shares of SmartFinancial stock traded down $0.17 during trading hours on Wednesday, hitting $35.41. The company's stock had a trading volume of 33,144 shares, compared to its average volume of 54,785. SmartFinancial has a 12 month low of $25.58 and a 12 month high of $37.72. The stock has a 50 day moving average of $33.39 and a 200 day moving average of $32.45. The company has a market capitalization of $602.68 million, a PE ratio of 16.55 and a beta of 0.70. 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 (NASDAQ:SMBK - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.03. SmartFinancial had a return on equity of 7.33% and a net margin of 12.67%. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Analysts predict that SmartFinancial will post 2.45 earnings per share for the current year.

Institutional Trading of SmartFinancial

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in SmartFinancial by 269.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank's stock valued at $48,000 after purchasing an additional 1,122 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in SmartFinancial during the first quarter valued at $61,000. GAMMA Investing LLC raised its position in SmartFinancial by 19,400.0% during the first quarter. GAMMA Investing LLC now owns 2,145 shares of the bank's stock valued at $69,000 after purchasing an additional 2,134 shares in the last quarter. CWM LLC raised its position in SmartFinancial by 282.9% during the first quarter. CWM LLC now owns 2,489 shares of the bank's stock valued at $77,000 after purchasing an additional 1,839 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in SmartFinancial during the fourth quarter valued at about $104,000. 58.78% of the stock is owned by hedge funds and other institutional investors.

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.