SmartFinancial, Inc. (NASDAQ:SMBK) Stock Has Consensus Price Target of $50.42 According to Brokerages

SmartFinancial, Inc. (NASDAQ:SMBK) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $50.42.

Several research firms recently commented on SMBK. Benchmark lifted their target price on shares of SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Raymond James Financial restated a “strong-buy” rating and issued a $58.00 price target on shares of SmartFinancial in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods raised their price target on shares of SmartFinancial from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd. Finally, Stephens lifted their price target on shares of SmartFinancial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd.

SmartFinancial Stock Performance

NASDAQ:SMBK opened at $51.28 on Friday. The stock has a market cap of $876.73 million, a P/E ratio of 23.96 and a beta of 0.71. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average is $51.44 and its 200-day moving average is $46.16. SmartFinancial has a 1-year low of $33.01 and a 1-year high of $54.14.

SmartFinancial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 31st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, July 31st. SmartFinancial’s dividend payout ratio is presently 10.62%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of SmartFinancial in the second quarter valued at about $47,000. PNC Financial Services Group Inc. raised its position in shares of SmartFinancial by 13.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock worth $106,000 after acquiring an additional 316 shares during the last quarter. 1492 Capital Management LLC acquired a new position in shares of SmartFinancial in the first quarter worth approximately $270,000. Engineers Gate Manager LP lifted its stake in shares of SmartFinancial by 17.7% in the second quarter. Engineers Gate Manager LP now owns 6,570 shares of the bank’s stock worth $308,000 after acquiring an additional 990 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in SmartFinancial by 3,739.1% in the first quarter. Hillsdale Investment Management Inc. now owns 8,830 shares of the bank’s stock valued at $345,000 after acquiring an additional 8,600 shares during the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.

SmartFinancial Company Profile

SmartFinancial, Inc (NASDAQ: SMBK) is a bank holding company for SmartBank, a community bank that provides financial services to individuals, businesses and organizations. The company offers deposit accounts, consumer and commercial lending, mortgage services, treasury management, online and mobile banking, and wealth management services.

SmartBank was established in 2007 and has expanded through organic growth and acquisitions. Its banking operations serve communities across Tennessee, Alabama and Florida, with branches and lending activities focused primarily on the Southeast.

SmartFinancial is led by William G.