SmartFinancial (SMBK) Reaches New 52-Week Low at $19.02

SmartFinancial Inc (NASDAQ:SMBK) shares reached a new 52-week low on Thursday . The company traded as low as $19.02 and last traded at $19.13, with a volume of 1147 shares. The stock had previously closed at $19.79.

A number of research analysts have weighed in on SMBK shares. BidaskClub raised shares of SmartFinancial from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Zacks Investment Research lowered shares of SmartFinancial from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 27th. Stephens reissued a “hold” rating and issued a $23.00 target price on shares of SmartFinancial in a research note on Friday, October 26th. ValuEngine lowered shares of SmartFinancial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Finally, Raymond James set a $24.00 target price on shares of SmartFinancial and gave the stock a “buy” rating in a research note on Thursday, October 25th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.60.

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $262.37 million, a price-to-earnings ratio of 17.73 and a beta of 0.35.

SmartFinancial (NASDAQ:SMBK) last released its earnings results on Tuesday, October 23rd. The bank reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). SmartFinancial had a return on equity of 7.62% and a net margin of 13.11%. The business had revenue of $20.72 million during the quarter, compared to analysts’ expectations of $21.40 million. Analysts anticipate that SmartFinancial Inc will post 1.51 EPS for the current year.

In other news, Director Clifton N. Miller purchased 1,680 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was acquired at an average price of $21.47 per share, for a total transaction of $36,069.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 3,455 shares of company stock valued at $72,701 in the last 90 days. Insiders own 11.96% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of SmartFinancial by 74.2% during the 2nd quarter. BlackRock Inc. now owns 640,702 shares of the bank’s stock worth $16,503,000 after buying an additional 272,911 shares during the last quarter. Vanguard Group Inc. increased its holdings in SmartFinancial by 12.2% in the 3rd quarter. Vanguard Group Inc. now owns 478,992 shares of the bank’s stock valued at $11,280,000 after purchasing an additional 52,140 shares during the last quarter. Renaissance Technologies LLC increased its holdings 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 purchasing an additional 36,700 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in SmartFinancial by 40.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 135,564 shares of the bank’s stock valued at $3,193,000 after purchasing an additional 39,253 shares during the last quarter. Finally, Penn Capital Management Co. Inc. increased its holdings in SmartFinancial by 78.7% in the 3rd quarter. Penn Capital Management Co. Inc. now owns 129,772 shares of the bank’s stock valued at $3,056,000 after purchasing an additional 57,151 shares during the last quarter. Institutional investors and hedge funds own 34.10% of the company’s stock.

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SmartFinancial Company Profile (NASDAQ:SMBK)

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.

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