SmartFinancial (NASDAQ:SMBK) Reaches New 1-Year High - What's Next?

Key Points

• SmartFinancial's stock reached a new **52-week high** of **$37.82**, with an average trading price of **$37.31** and a volume of **18,744 shares** traded.
• Analysts have rated SmartFinancial with an average target price of **$38.25**, with Zacks Research upgrading their rating from **"hold"** to **"strong-buy."**
• The company recently announced a **quarterly dividend** of **$0.08 per share**, representing a **0.9% dividend yield** and a dividend payout ratio of **12.96%.**

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $37.82 and last traded at $37.31, with a volume of 18744 shares trading hands. The stock had previously closed at $36.38.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Hovde Group raised their target price on shares of SmartFinancial from $37.50 to $40.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Raymond James Financial reissued a "strong-buy" rating and issued a $44.00 price objective (up from $42.00) on shares of SmartFinancial in a research note on Thursday, July 24th. Zacks Research raised shares of SmartFinancial from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of SmartFinancial from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.25.

SmartFinancial Stock Performance

The stock has a market cap of $627.61 million, a PE ratio of 17.23 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The business's 50-day moving average price is $35.76 and its 200-day moving average price is $32.89.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The bank reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. SmartFinancial had a net margin of 12.67% and a return on equity of 7.33%. During the same quarter in the previous year, the business posted $0.46 earnings per share. As a group, equities research analysts expect that SmartFinancial, Inc. will post 2.45 earnings per share for the current fiscal year.

SmartFinancial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Friday, August 8th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. SmartFinancial's dividend payout ratio is currently 12.96%.

Institutional Trading of SmartFinancial

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank's stock worth $51,000 after purchasing an additional 472 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of SmartFinancial by 173.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank's stock worth $64,000 after buying an additional 1,202 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in SmartFinancial in the 1st quarter valued at about $61,000. GAMMA Investing LLC raised its stake in SmartFinancial by 19,400.0% in the 1st 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 during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of SmartFinancial by 24.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,243 shares of the bank's stock valued at $76,000 after acquiring an additional 438 shares during the last quarter. Institutional investors and hedge funds 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.