SmartFinancial (NASDAQ:SMBK) Receives "Equal Weight" Rating from Stephens

SmartFinancial (NASDAQ:SMBK - Get Free Report)'s stock had its "equal weight" rating reiterated by research analysts at Stephens in a note issued to investors on Tuesday,Benzinga reports. They presently have a $31.00 price objective on the bank's stock. Stephens' target price points to a potential upside of 2.93% from the company's previous close.

Separately, Raymond James reiterated a "strong-buy" rating and set a $42.00 target price (up from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $33.70.

SmartFinancial Stock Down 0.4 %

SmartFinancial stock traded down $0.13 during trading on Tuesday, reaching $30.12. 36,400 shares of the company's stock were exchanged, compared to its average volume of 53,108. The company's 50-day moving average is $30.99 and its two-hundred day moving average is $32.70. 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 has a 52-week low of $20.42 and a 52-week high of $37.72. The firm has a market cap of $512.55 million, a price-to-earnings ratio of 14.07 and a beta of 0.59.

Insider Buying and Selling at SmartFinancial

In related news, Chairman Wesley Miller Welborn acquired 1,162 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was bought at an average cost of $34.75 per share, with a total value of $40,379.50. Following the acquisition, the chairman now directly owns 96,938 shares in the company, valued at approximately $3,368,595.50. The trade was a 1.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.62% of the stock is owned by insiders.

Hedge Funds Weigh In On SmartFinancial

Several large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. raised its stake in SmartFinancial by 2,389.6% during the first quarter. Harbor Capital Advisors Inc. now owns 5,004 shares of the bank's stock valued at $156,000 after buying an additional 4,803 shares in the last quarter. GAMMA Investing LLC raised its position in shares of SmartFinancial by 19,400.0% during the 1st quarter. GAMMA Investing LLC now owns 2,145 shares of the bank's stock valued at $69,000 after acquiring an additional 2,134 shares in the last quarter. Wellington Management Group LLP lifted its stake in SmartFinancial by 28.6% during the fourth quarter. Wellington Management Group LLP now owns 437,793 shares of the bank's stock worth $13,563,000 after purchasing an additional 97,375 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new position in SmartFinancial in the fourth quarter worth $124,000. Finally, Squarepoint Ops LLC bought a new stake in SmartFinancial during the fourth quarter valued at $277,000. Institutional investors own 58.78% of the company's stock.

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.