SmartFinancial Inc (NASDAQ:SMBK) has been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $24.00.
A number of brokerages have issued reports on SMBK. BidaskClub upgraded SmartFinancial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. DA Davidson upgraded SmartFinancial from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Monday, November 4th. Raymond James downgraded SmartFinancial from an “outperform” rating to a “market perform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Stephens restated a “hold” rating and set a $23.00 price objective on shares of SmartFinancial in a research report on Wednesday. Finally, Zacks Investment Research upgraded SmartFinancial from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of SmartFinancial in the second quarter worth approximately $26,000. Bessemer Group Inc. purchased a new stake in shares of SmartFinancial in the second quarter worth approximately $67,000. Russell Investments Group Ltd. purchased a new stake in shares of SmartFinancial in the third quarter worth approximately $85,000. Strs Ohio purchased a new stake in shares of SmartFinancial in the third quarter worth approximately $129,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of SmartFinancial by 194.4% in the second quarter. JPMorgan Chase & Co. now owns 8,271 shares of the bank’s stock worth $177,000 after buying an additional 5,462 shares during the period. Hedge funds and other institutional investors own 40.64% of the company’s stock.
SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. SmartFinancial had a return on equity of 7.91% and a net margin of 21.46%. The business had revenue of $23.34 million for the quarter, compared to the consensus estimate of $23.61 million. Research analysts anticipate that SmartFinancial will post 1.62 earnings per share for the current year.
The firm also recently declared a dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a $0.05 dividend. The ex-dividend date is Wednesday, November 20th.
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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