$23.22 Million in Sales Expected for SmartFinancial Inc (NASDAQ:SMBK) This Quarter

Brokerages expect SmartFinancial Inc (NASDAQ:SMBK) to report sales of $23.22 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for SmartFinancial’s earnings, with estimates ranging from $22.90 million to $23.54 million. SmartFinancial posted sales of $21.12 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.9%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, July 23rd.

On average, analysts expect that SmartFinancial will report full-year sales of $94.74 million for the current year, with estimates ranging from $94.00 million to $95.47 million. For the next financial year, analysts forecast that the company will report sales of $101.43 million, with estimates ranging from $98.30 million to $104.56 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for SmartFinancial.

SmartFinancial (NASDAQ:SMBK) last released its earnings results on Wednesday, April 24th. The bank reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.04). The business had revenue of $22.70 million for the quarter, compared to analysts’ expectations of $23.06 million. SmartFinancial had a return on equity of 7.91% and a net margin of 18.23%.

A number of research firms have recently commented on SMBK. DA Davidson began coverage on Business First Bancshares in a report on Wednesday. They issued a “neutral” rating and a $28.00 price objective on the stock. ValuEngine downgraded Xylem from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Zacks Investment Research downgraded Zurich Insurance Group from a “hold” rating to a “sell” rating in a report on Saturday, April 20th. Finally, FIG Partners reiterated an “outperform” rating on shares of SmartFinancial in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $23.00.

In related news, Director Monique Berke purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average price of $21.21 per share, with a total value of $84,840.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.82% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its holdings in shares of SmartFinancial by 519.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the bank’s stock worth $45,000 after acquiring an additional 1,985 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of SmartFinancial by 356.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,111 shares of the bank’s stock valued at $75,000 after buying an additional 3,211 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of SmartFinancial by 9.0% during the first quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock valued at $251,000 after buying an additional 1,100 shares in the last quarter. Aptus Capital Advisors LLC purchased a new position in shares of SmartFinancial during the fourth quarter valued at $274,000. Finally, Rhumbline Advisers grew its holdings in shares of SmartFinancial by 44.8% during the fourth quarter. Rhumbline Advisers now owns 15,938 shares of the bank’s stock valued at $291,000 after buying an additional 4,934 shares in the last quarter. 38.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SmartFinancial stock remained flat at $$22.50 during trading hours on Friday. The stock had a trading volume of 44,926 shares, compared to its average volume of 40,112. The firm’s 50-day simple moving average is $21.29. The firm has a market cap of $313.79 million, a price-to-earnings ratio of 14.52 and a beta of 0.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. SmartFinancial has a 52 week low of $16.17 and a 52 week high of $26.28.

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, Florida, and Georgia. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit.

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Earnings History and Estimates for SmartFinancial (NASDAQ:SMBK)

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