SmartFinancial (NASDAQ:SMBK) Stock Gets Price Target Bump from Keefe, Bruyette & Woods

SmartFinancial (NASDAQ:SMBK) had its target price boosted by equities research analysts at Keefe, Bruyette & Woods from $51.00 to $52.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 5.36% from the stock’s current price.

Several other equities research analysts have also recently commented on SMBK. Raymond James Financial cut shares of SmartFinancial from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $58.00 to $56.00 in a research report on Wednesday. Stephens lifted their target price on shares of SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Benchmark boosted their price target on shares of SmartFinancial from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.42.

SmartFinancial Trading Down 1.5%

SMBK stock traded down $0.77 on Wednesday, reaching $49.35. The company’s stock had a trading volume of 81,977 shares, compared to its average volume of 94,865. The firm has a market cap of $843.87 million, a PE ratio of 23.07 and a beta of 0.71. The business has a fifty day simple moving average of $51.00 and a two-hundred day simple moving average of $46.99. SmartFinancial has a 12-month low of $34.22 and a 12-month high of $54.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90.

Institutional Investors Weigh In On SmartFinancial

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in SmartFinancial by 1,374.1% in the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock worth $42,000 after purchasing an additional 797 shares during the period. Fortitude Family Office LLC raised its holdings in SmartFinancial by 3,096.3% in the third quarter. Fortitude Family Office LLC now owns 863 shares of the bank’s stock worth $43,000 after purchasing an additional 836 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in SmartFinancial during the second quarter valued at $47,000. USA Financial Formulas purchased a new position in SmartFinancial during the third quarter valued at $48,000. Finally, PNC Financial Services Group Inc. lifted its position in SmartFinancial by 13.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock valued at $106,000 after buying an additional 316 shares during the period. 58.78% of the stock is currently owned by institutional investors.

About SmartFinancial

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.