SmartFinancial (SMBK) Projected to Post Quarterly Earnings on Monday

Key Points

• SmartFinancial is set to report quarterly results after the market close on Monday, April 20, with analysts projecting $0.78 EPS and $53.435 million in revenue.
• The company pays a quarterly dividend of $0.08 (annualized $0.32, 0.8% yield) with a low payout ratio (~10.74%) and its board authorized a $10 million share buyback program to repurchase up to ~1.5% of shares.
• Market consensus is a "Moderate Buy" with a $40.50 target (including a recent upgrade to outperform), insiders recently bought shares, and institutional investors own about 58.8% of the stock.

SmartFinancial (NASDAQ:SMBK - Get Free Report) is expected to be issuing its results after the market closes on Monday, April 20th. Analysts expect the company to announce earnings of $0.78 per share and revenue of $53.4350 million for the quarter.

SmartFinancial Stock Down 0.1%

SMBK stock opened at $42.15 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $720.68 million, a P/E ratio of 19.70 and a beta of 0.76. The business has a 50-day moving average of $40.09 and a 200-day moving average of $37.96. SmartFinancial has a fifty-two week low of $26.74 and a fifty-two week high of $43.90.

SmartFinancial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 13th. SmartFinancial's dividend payout ratio is currently 10.74%.

SmartFinancial declared that its board has authorized a stock repurchase program on Friday, January 30th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the bank to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SMBK. Hovde Group raised SmartFinancial from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a research report on Thursday, January 22nd. Zacks Research cut SmartFinancial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, SmartFinancial presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.50.

Insider Buying and Selling

In related news, Chairman Wesley Miller Welborn purchased 835 shares of SmartFinancial stock in a transaction that occurred on Monday, February 9th. The stock was purchased at an average cost of $43.13 per share, with a total value of $36,013.55. Following the completion of the transaction, the chairman owned 96,468 shares of the company's stock, valued at approximately $4,160,664.84. This trade represents a 0.87% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.62% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in SmartFinancial by 3.2% during the third quarter. Vanguard Group Inc. now owns 846,978 shares of the bank's stock valued at $30,263,000 after purchasing an additional 26,373 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in SmartFinancial by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 838,797 shares of the bank's stock valued at $31,027,000 after buying an additional 2,268 shares during the period. Wellington Management Group LLP raised its stake in SmartFinancial by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 728,151 shares of the bank's stock valued at $26,934,000 after buying an additional 80,639 shares during the period. Renaissance Technologies LLC raised its stake in SmartFinancial by 3.2% in the fourth quarter. Renaissance Technologies LLC now owns 178,374 shares of the bank's stock valued at $6,598,000 after buying an additional 5,500 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in SmartFinancial by 55.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 163,240 shares of the bank's stock valued at $6,038,000 after buying an additional 58,560 shares during the period. 58.78% of the stock is owned by institutional investors and hedge funds.

SmartFinancial Company Profile

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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