SmartFinancial (NASDAQ:SMBK) Price Target Raised to $38.00

SmartFinancial (NASDAQ:SMBK - Free Report) had its target price hoisted by Keefe, Bruyette & Woods from $35.00 to $38.00 in a research report released on Thursday,Benzinga reports. They currently have a market perform rating on the bank's stock.

Other equities research analysts have also issued research reports about the company. Stephens reiterated an "equal weight" rating and issued a $31.00 target price on shares of SmartFinancial in a research report on Tuesday, April 22nd. Hovde Group upped their target price on SmartFinancial from $37.50 to $40.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd.

SmartFinancial Stock Down 0.6%

Shares of SMBK stock traded down $0.21 on Thursday, hitting $35.27. The stock had a trading volume of 35,011 shares, compared to its average volume of 54,644. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $33.39 and a 200 day moving average price of $32.48. The company has a market cap of $600.21 million, a PE ratio of 16.48 and a beta of 0.70. SmartFinancial has a one year low of $25.58 and a one year high of $37.72.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the firm earned $0.46 EPS. Research analysts anticipate that SmartFinancial will post 2.45 earnings per share for the current fiscal year.

SmartFinancial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.32 annualized dividend and a yield of 0.91%. SmartFinancial's dividend payout ratio is presently 12.96%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in SmartFinancial by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 758,069 shares of the bank's stock valued at $23,485,000 after purchasing an additional 32,418 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of SmartFinancial by 28.6% in the 4th quarter. Wellington Management Group LLP now owns 437,793 shares of the bank's stock worth $13,563,000 after acquiring an additional 97,375 shares during the last quarter. American Century Companies Inc. increased its stake in shares of SmartFinancial by 0.5% in the 1st quarter. American Century Companies Inc. now owns 276,458 shares of the bank's stock worth $8,592,000 after acquiring an additional 1,511 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of SmartFinancial by 0.6% in the 4th quarter. Alliancebernstein L.P. now owns 208,193 shares of the bank's stock worth $6,450,000 after acquiring an additional 1,230 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of SmartFinancial by 6.2% in the 1st quarter. Acadian Asset Management LLC now owns 156,591 shares of the bank's stock worth $4,866,000 after acquiring an additional 9,122 shares during the last quarter. Hedge funds and other institutional investors own 58.78% of the company's stock.

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.