SmartFinancial, Inc. (NASDAQ:SMBK) Receives $47.50 Average PT from Brokerages

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Four investment 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 target price among analysts that have issued a report on the stock in the last year is $49.75.

Several analysts have recently commented on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $58.00 price objective on shares of SmartFinancial in a report on Wednesday. Keefe, Bruyette & Woods boosted their target price on SmartFinancial from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday. Stephens upped their target price on SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Benchmark increased their price target on SmartFinancial from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday.

Insider Activity

In related news, Director Cathy G. Ackermann bought 3,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $42.12 per share, with a total value of $126,360.00. Following the transaction, the director owned 19,831 shares in the company, valued at approximately $835,281.72. This trade represents a 17.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Victor Lynn Barrett purchased 3,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were bought at an average price of $43.78 per share, for a total transaction of $131,340.00. Following the purchase, the director directly owned 151,724 shares in the company, valued at $6,642,476.72. This represents a 2.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 6,290 shares of company stock worth $269,677. Corporate insiders own 6.93% of the company’s stock.

Institutional Investors Weigh In On SmartFinancial

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its position in SmartFinancial by 801.7% during the 4th quarter. SG Americas Securities LLC now owns 34,607 shares of the bank’s stock worth $1,280,000 after acquiring an additional 30,769 shares during the period. Deprince Race & Zollo Inc. increased its holdings in shares of SmartFinancial by 14.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 132,067 shares of the bank’s stock valued at $4,885,000 after purchasing an additional 16,367 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of SmartFinancial in the third quarter valued at about $724,000. Hsbc Holdings PLC raised its stake in shares of SmartFinancial by 176.1% in the fourth quarter. Hsbc Holdings PLC now owns 22,325 shares of the bank’s stock worth $825,000 after purchasing an additional 14,240 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of SmartFinancial in the first quarter worth about $792,000. 58.78% of the stock is currently owned by institutional investors and hedge funds.

SmartFinancial Price Performance

Shares of SMBK opened at $50.02 on Friday. The company has a market cap of $855.21 million, a price-to-earnings ratio of 23.37 and a beta of 0.70. SmartFinancial has a twelve month low of $32.63 and a twelve month high of $50.12. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $44.94 and a two-hundred day moving average of $41.88.

SmartFinancial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, July 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.7%. SmartFinancial’s payout ratio is presently 10.62%.

About SmartFinancial

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.