SmartFinancial (NASDAQ:SMBK) Announces Earnings Results

SmartFinancial (NASDAQ:SMBK - Get Free Report) issued its quarterly earnings results on Monday. The bank reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03, RTT News reports. SmartFinancial had a net margin of 12.67% and a return on equity of 7.33%. During the same period last year, the firm posted $0.46 earnings per share.

SmartFinancial Trading Down 0.4%

Shares of SMBK stock traded down $0.13 on Friday, hitting $35.45. 2,246 shares of the stock traded hands, compared to its average volume of 54,563. The firm's 50-day moving average price is $33.34 and its two-hundred day moving average price is $32.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $603.29 million, a PE ratio of 16.57 and a beta of 0.70. SmartFinancial has a twelve month low of $25.58 and a twelve month high of $37.72.

SmartFinancial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. SmartFinancial's payout ratio is 12.96%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of SmartFinancial by 150.9% during the 1st quarter. AQR Capital Management LLC now owns 51,972 shares of the bank's stock valued at $1,615,000 after acquiring an additional 31,255 shares during the last quarter. Jane Street Group LLC boosted its position in shares of SmartFinancial by 263.2% during the 1st quarter. Jane Street Group LLC now owns 42,385 shares of the bank's stock valued at $1,317,000 after acquiring an additional 30,715 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SmartFinancial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank's stock valued at $295,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 58.78% of the company's stock.

Analysts Set New Price Targets

SMBK has been the topic of several recent research reports. Hovde Group lifted their target price on shares of SmartFinancial from $37.50 to $40.00 and gave the stock a "market perform" rating in a research note on Wednesday. Stephens reaffirmed an "equal weight" rating and set a $31.00 target price on shares of SmartFinancial in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods lifted their target price on shares of SmartFinancial from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Thursday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $44.00 target price (up previously from $42.00) on shares of SmartFinancial in a research note on Thursday.

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.