SmartFinancial (SMBK) Projected to Post Earnings on Tuesday

Key Points

• SmartFinancial (SMBK) is expected to announce its earnings on Tuesday, October 21st, with analysts projecting earnings of $0.74 per share and revenue of $51.365 million.
• The company's recent earnings report showed an EPS of $0.69, surpassing estimates, and SmartFinancial's net margin stood at 12.67%.
• Recently, hedge funds have increased their stakes in SmartFinancial, with 58.78% of the stock now owned by institutional investors.

SmartFinancial (NASDAQ:SMBK - Get Free Report) is anticipated to release its results after the market closes on Tuesday, October 21st. Analysts expect SmartFinancial to post earnings of $0.74 per share and revenue of $51.3650 million for the quarter.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $0.69 EPS for the quarter, topping 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 prior year, the company posted $0.46 EPS. On average, analysts expect SmartFinancial to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

SmartFinancial Stock Performance

Shares of SMBK stock opened at $33.87 on Tuesday. 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 company has a market capitalization of $576.52 million, a P/E ratio of 15.83 and a beta of 0.80. The company's 50 day moving average price is $35.86 and its two-hundred day moving average price is $33.34. SmartFinancial has a 52 week low of $26.31 and a 52 week high of $37.92.

SmartFinancial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 8th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, August 8th. SmartFinancial's dividend payout ratio (DPR) is 12.96%.

Hedge Funds Weigh In On SmartFinancial

Several hedge funds and other institutional investors have recently made changes to their positions in SMBK. AQR Capital Management LLC grew its stake in shares of SmartFinancial by 150.9% in the first quarter. AQR Capital Management LLC now owns 51,972 shares of the bank's stock valued at $1,615,000 after buying an additional 31,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in SmartFinancial by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank's stock worth $295,000 after purchasing an additional 390 shares during the period. Jane Street Group LLC boosted its position in SmartFinancial by 263.2% during the first quarter. Jane Street Group LLC now owns 42,385 shares of the bank's stock worth $1,317,000 after purchasing an additional 30,715 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in SmartFinancial by 11.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 46,565 shares of the bank's stock worth $1,573,000 after purchasing an additional 4,639 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in 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 during the period. 58.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SMBK has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of SmartFinancial from $35.00 to $38.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Zacks Research downgraded shares of SmartFinancial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 8th. Raymond James Financial reiterated a "strong-buy" rating and issued a $44.00 price objective (up from $42.00) on shares of SmartFinancial in a report on Thursday, July 24th. Finally, Hovde Group lifted their price objective on shares of SmartFinancial from $37.50 to $40.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, SmartFinancial has a consensus rating of "Hold" and an average target price of $38.25.

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.

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