SmartFinancial (NASDAQ:SMBK) PT Raised to $32.50

by · The Markets Daily

SmartFinancial (NASDAQ:SMBK – Get Free Report) had its price target hoisted by Hovde Group from $28.00 to $32.50 in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a “market perform” rating on the bank’s stock. Hovde Group’s price objective would indicate a potential upside of 0.46% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on SMBK. Piper Sandler cut shares of SmartFinancial from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $26.00 to $28.00 in a research report on Wednesday, July 24th. Stephens reiterated an “overweight” rating and issued a $27.00 target price on shares of SmartFinancial in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Get Our Latest Stock Report on SMBK

SmartFinancial Stock Up 0.7 %

SMBK stock opened at $32.35 on Wednesday. SmartFinancial has a one year low of $19.00 and a one year high of $32.40. The firm has a market cap of $551.99 million, a PE ratio of 20.74 and a beta of 0.69. The firm’s 50 day moving average price is $29.17 and its 200-day moving average price is $25.42. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90.

SmartFinancial (NASDAQ:SMBK – Get Free Report) last posted its earnings results on Monday, October 21st. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The company had revenue of $73.10 million for the quarter, compared to the consensus estimate of $42.32 million. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, equities research analysts anticipate that SmartFinancial will post 1.97 EPS for the current year.

Institutional Investors Weigh In On SmartFinancial

Several large investors have recently added to or reduced their stakes in SMBK. Foundry Partners LLC grew its stake in shares of SmartFinancial by 41.7% in the first quarter. Foundry Partners LLC now owns 150,870 shares of the bank’s stock worth $3,179,000 after acquiring an additional 44,407 shares in the last quarter. BNP Paribas Financial Markets grew its stake in SmartFinancial by 429.0% during the 1st quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank’s stock worth $499,000 after purchasing an additional 19,210 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in SmartFinancial by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 130,361 shares of the bank’s stock worth $2,747,000 after purchasing an additional 24,979 shares during the period. Vanguard Group Inc. raised its position in SmartFinancial by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 789,233 shares of the bank’s stock valued at $16,629,000 after purchasing an additional 19,490 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of SmartFinancial by 320.7% in the 2nd quarter. Acadian Asset Management LLC now owns 54,574 shares of the bank’s stock valued at $1,289,000 after buying an additional 41,602 shares during the period. 58.78% of the stock is owned by hedge funds and other institutional investors.

About SmartFinancial

(Get Free Report)

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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