DA Davidson reissued their neutral rating on shares of SmartFinancial (NASDAQ:SMBK) in a research report report published on Monday, Zacks.com reports.
SMBK has been the subject of a number of other reports. Zacks Investment Research cut shares of Zurich Insurance Group from a hold rating to a sell rating in a research note on Saturday, April 20th. FIG Partners reissued an outperform rating on shares of SmartFinancial in a research note on Thursday, April 25th. BidaskClub cut shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Finally, ValuEngine cut shares of Xylem from a buy rating to a hold rating in a research note on Tuesday, May 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $23.00.
SMBK stock traded down $0.16 during midday trading on Monday, reaching $22.06. 116 shares of the company’s stock traded hands, compared to its average volume of 36,704. SmartFinancial has a 52-week low of $16.17 and a 52-week high of $26.03. The company has a market cap of $313.79 million, a PE ratio of 14.19 and a beta of 0.55. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average is $21.63.
SmartFinancial (NASDAQ:SMBK) last announced its earnings results on Wednesday, April 24th. The bank reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.04). SmartFinancial had a net margin of 18.23% and a return on equity of 7.91%. The business had revenue of $22.70 million for the quarter, compared to analysts’ expectations of $23.06 million. Sell-side analysts anticipate that SmartFinancial will post 1.7 earnings per share for the current fiscal year.
In other news, Director Monique Berke acquired 4,000 shares of SmartFinancial stock in a transaction dated Thursday, May 9th. The stock was purchased at an average cost of $21.21 per share, with a total value of $84,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.82% of the company’s stock.
Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in shares of SmartFinancial during the second quarter worth $26,000. BNP Paribas Arbitrage SA boosted its position in shares of SmartFinancial by 519.6% during the first quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the bank’s stock worth $45,000 after acquiring an additional 1,985 shares during the last quarter. Bessemer Group Inc. bought a new position in shares of SmartFinancial during the second quarter worth $67,000. Metropolitan Life Insurance Co. NY boosted its position in shares of SmartFinancial by 356.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,111 shares of the bank’s stock worth $75,000 after acquiring an additional 3,211 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of SmartFinancial by 9.0% during the first quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock worth $251,000 after acquiring an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 38.73% of the company’s stock.
SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, Florida, and Georgia. 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.
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