SmartFinancial Inc (NASDAQ:SMBK) insider William L. Yoder sold 20,000 shares of SmartFinancial stock in a transaction on Friday, September 7th. The stock was sold at an average price of $24.25, for a total transaction of $485,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
SMBK traded down $1.06 during trading on Friday, hitting $24.08. The company had a trading volume of 45,331 shares, compared to its average volume of 16,485. The stock has a market capitalization of $319.39 million, a P/E ratio of 21.69 and a beta of 0.09. SmartFinancial Inc has a one year low of $19.49 and a one year high of $27.69. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29.
SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Tuesday, July 24th. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $21.12 million for the quarter, compared to analysts’ expectations of $20.40 million. SmartFinancial had a net margin of 11.64% and a return on equity of 7.08%. equities research analysts predict that SmartFinancial Inc will post 1.57 EPS for the current fiscal year.
SMBK has been the topic of a number of recent analyst reports. Stephens initiated coverage on shares of SmartFinancial in a research report on Tuesday, June 26th. They set an “equal weight” rating and a $27.00 price target on the stock. BidaskClub cut shares of SmartFinancial from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 13th. Hovde Group lifted their price target on shares of SmartFinancial from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday, June 29th. Finally, Zacks Investment Research cut shares of SmartFinancial from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $26.80.
A number of institutional investors and hedge funds have recently bought and sold shares of SMBK. BlackRock Inc. lifted its position in SmartFinancial by 74.2% in the 2nd quarter. BlackRock Inc. now owns 640,702 shares of the bank’s stock valued at $16,503,000 after acquiring an additional 272,911 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in SmartFinancial by 109.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 96,311 shares of the bank’s stock valued at $2,481,000 after acquiring an additional 50,330 shares in the last quarter. Penn Capital Management Co. Inc. lifted its position in SmartFinancial by 129.1% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 72,621 shares of the bank’s stock valued at $1,871,000 after acquiring an additional 40,916 shares in the last quarter. Renaissance Technologies LLC lifted its position in SmartFinancial by 35.2% in the 2nd quarter. Renaissance Technologies LLC now owns 141,100 shares of the bank’s stock valued at $3,635,000 after acquiring an additional 36,700 shares in the last quarter. Finally, Banc Funds Co. LLC lifted its position in SmartFinancial by 7.5% in the 1st quarter. Banc Funds Co. LLC now owns 508,943 shares of the bank’s stock valued at $11,991,000 after acquiring an additional 35,425 shares in the last quarter. 36.59% of the stock is currently owned by institutional investors and hedge funds.
SmartFinancial, Inc operates as the bank holding company for the SmartBank that provides various financial services to individuals and corporate customers in the United States. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit.
See Also: Hedge Funds
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