SmartFinancial, Inc. (NASDAQ:SMBK) Receives $26.25 Consensus Price Target from Analysts

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) has received an average recommendation of "Moderate Buy" from the five research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $25.40.

SMBK has been the topic of a number of recent analyst reports. Piper Sandler upgraded SmartFinancial from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $25.00 to $26.00 in a research report on Wednesday. StockNews.com upgraded SmartFinancial from a "sell" rating to a "hold" rating in a research report on Tuesday, January 9th. Raymond James increased their price target on SmartFinancial from $24.00 to $28.00 and gave the stock a "strong-buy" rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods lowered their price target on SmartFinancial from $26.00 to $24.00 and set a "market perform" rating on the stock in a research report on Wednesday. Finally, Hovde Group lowered their price target on SmartFinancial from $26.00 to $23.00 and set a "market perform" rating on the stock in a research report on Wednesday.

Insider Activity

In other news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total value of $51,782.22. Following the transaction, the executive vice president now owns 19,091 shares in the company, valued at $412,938.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.80% of the company's stock.

Institutional Investors Weigh In On SmartFinancial

Several hedge funds and other institutional investors have recently made changes to their positions in SMBK. SG Americas Securities LLC acquired a new stake in shares of SmartFinancial in the third quarter valued at approximately $159,000. Bailard Inc. acquired a new stake in shares of SmartFinancial in the third quarter valued at approximately $292,000. Panagora Asset Management Inc. acquired a new stake in shares of SmartFinancial in the third quarter valued at approximately $758,000. New York State Common Retirement Fund increased its holdings in shares of SmartFinancial by 68.0% in the third quarter. New York State Common Retirement Fund now owns 7,430 shares of the bank's stock valued at $159,000 after purchasing an additional 3,008 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of SmartFinancial by 2.6% in the third quarter. Swiss National Bank now owns 31,747 shares of the bank's stock valued at $678,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 58.78% of the company's stock.

SmartFinancial Stock Performance

SmartFinancial stock traded up $0.71 during midday trading on Wednesday, hitting $20.92. 75,948 shares of the company were exchanged, compared to its average volume of 33,009. The firm has a market capitalization of $356.83 million, a PE ratio of 13.56 and a beta of 0.69. SmartFinancial has a fifty-two week low of $18.86 and a fifty-two week high of $25.98. The business has a fifty day simple moving average of $20.83 and a two-hundred day simple moving average of $21.94. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 0.88.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last posted its earnings results on Monday, January 22nd. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $65.07 million for the quarter, compared to analyst estimates of $39.14 million. SmartFinancial had a return on equity of 6.94% and a net margin of 10.65%. During the same period last year, the business earned $0.76 earnings per share. On average, sell-side analysts forecast that SmartFinancial will post 1.91 earnings per share for the current year.

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.