SmartFinancial, Inc. (SMBK) – What Are Brokerages Thinking About This Stock?

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $52.60.

A number of research analysts have commented on the stock. Stephens increased their price target on shares of SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of SmartFinancial from $51.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, October 21st. Benchmark upped their price objective on shares of SmartFinancial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Finally, Raymond James Financial cut shares of SmartFinancial from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $58.00 to $56.00 in a research note on Wednesday, October 21st.

SmartFinancial Stock Performance

NASDAQ:SMBK opened at $49.65 on Tuesday. The business has a 50 day moving average of $50.72 and a 200 day moving average of $44.92. The company has a market capitalization of $848.92 million, a price-to-earnings ratio of 23.20 and a beta of 0.71. SmartFinancial has a 1-year low of $34.22 and a 1-year high of $54.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90.

Insider Buying and Selling

In related news, Director Steven Tucker sold 3,500 shares of SmartFinancial stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $49.50, for a total value of $173,250.00. Following the transaction, the director owned 47,222 shares in the company, valued at $2,337,489. This trade represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 4,360 shares of company stock valued at $217,864. 6.93% of the stock is owned by company insiders.

Institutional Trading of SmartFinancial

Several institutional investors have recently added to or reduced their stakes in the business. North Reef Capital Management LP grew its stake in shares of SmartFinancial by 1.6% during the first quarter. North Reef Capital Management LP now owns 137,088 shares of the bank’s stock valued at $5,357,000 after buying an additional 2,217 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of SmartFinancial in the second quarter worth about $3,746,000. Bank of America Corp DE lifted its stake in shares of SmartFinancial by 147.6% in the 1st quarter. Bank of America Corp DE now owns 47,443 shares of the bank’s stock valued at $1,854,000 after acquiring an additional 28,280 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of SmartFinancial by 0.6% in the 1st quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock valued at $1,821,000 after acquiring an additional 280 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of SmartFinancial by 10.4% in the 1st quarter. NewEdge Advisors LLC now owns 29,429 shares of the bank’s stock valued at $1,150,000 after acquiring an additional 2,778 shares during the last quarter. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank’s products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.