SmartFinancial (SMBK) Projected to Announce Earnings on Monday

Key Points

• SmartFinancial is expected to report earnings after Monday’s market close, with analysts forecasting $0.90 per share on $55.744 million in revenue for the quarter.
• The company recently raised its quarterly dividend to $0.09 per share from $0.08, giving it an annualized dividend of $0.36 and a yield of about 0.8%.
• Analyst sentiment is generally positive, with a Moderate Buy consensus rating and a $47.50 average price target; recent insider buying has also signaled confidence in the stock.

SmartFinancial (NASDAQ:SMBK - Get Free Report) is projected to release its results after the market closes on Monday, July 20th. Analysts expect SmartFinancial to post earnings of $0.90 per share and revenue of $55.7440 million for the quarter.

SmartFinancial Stock Down 0.0%

SMBK opened at $46.47 on Monday. 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 stock has a market cap of $794.60 million, a price-to-earnings ratio of 21.72 and a beta of 0.70. SmartFinancial has a twelve month low of $32.63 and a twelve month high of $49.06. The company's 50-day moving average price is $43.60 and its two-hundred day moving average price is $41.15.

SmartFinancial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. This is an increase from SmartFinancial's previous quarterly dividend of $0.08. SmartFinancial's dividend payout ratio (DPR) is 11.54%.

Analyst Ratings Changes

Several equities analysts recently commented on SMBK shares. Benchmark began coverage on SmartFinancial in a research note on Wednesday, June 24th. They issued a "buy" rating and a $54.00 price objective on the stock. Raymond James Financial reissued a "strong-buy" rating and issued a $50.00 target price on shares of SmartFinancial in a research report on Monday, April 20th. Finally, Keefe, Bruyette & Woods boosted their target price on SmartFinancial from $42.00 to $46.00 and gave the company a "market perform" rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, SmartFinancial has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

Insider Activity

In other SmartFinancial news, Director Cathy G. Ackermann bought 3,000 shares of SmartFinancial stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $42.12 per share, for a total transaction of $126,360.00. Following the completion of the purchase, the director directly owned 19,831 shares of the company's stock, valued at approximately $835,281.72. This trade represents a 17.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Victor Lynn Barrett purchased 3,000 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average price of $43.78 per share, for a total transaction of $131,340.00. Following the completion of the purchase, the director directly owned 151,724 shares in the company, valued at $6,642,476.72. This represents a 2.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 6,290 shares of company stock valued at $269,677 in the last quarter. Corporate insiders own 6.93% of the company's stock.

Institutional Investors Weigh In On SmartFinancial

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its position in shares of SmartFinancial by 107.9% during the fourth quarter. NewEdge Advisors LLC now owns 26,651 shares of the bank's stock worth $986,000 after acquiring an additional 13,834 shares in the last quarter. Empowered Funds LLC grew its position in shares of SmartFinancial by 10.6% in the fourth quarter. Empowered Funds LLC now owns 86,967 shares of the bank's stock valued at $3,217,000 after purchasing an additional 8,354 shares in the last quarter. Zacks Investment Management grew its position in shares of SmartFinancial by 2.1% in the fourth quarter. Zacks Investment Management now owns 78,575 shares of the bank's stock valued at $2,907,000 after purchasing an additional 1,585 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of SmartFinancial by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 728,151 shares of the bank's stock valued at $26,934,000 after purchasing an additional 80,639 shares during the period. Finally, Tudor Investment Corp ET AL raised its stake in shares of SmartFinancial by 127.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 46,075 shares of the bank's stock valued at $1,704,000 after purchasing an additional 25,808 shares during the period. Institutional investors own 58.78% of the company's stock.

About SmartFinancial

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial's network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers' evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.

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