Shares of SmartFinancial Inc (NASDAQ:SMBK) have been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $23.00.
SMBK has been the topic of several research analyst reports. ValuEngine raised SmartFinancial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised SmartFinancial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. DA Davidson reaffirmed a “neutral” rating on shares of SmartFinancial in a research note on Monday, July 22nd. Raymond James lowered SmartFinancial from an “outperform” rating to a “market perform” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. Finally, BidaskClub lowered SmartFinancial from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th.
Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of SmartFinancial during the 2nd quarter valued at about $26,000. Bessemer Group Inc. purchased a new stake in SmartFinancial during the 2nd quarter worth approximately $67,000. JPMorgan Chase & Co. increased its holdings in SmartFinancial by 194.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,271 shares of the bank’s stock worth $177,000 after purchasing an additional 5,462 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in SmartFinancial by 46.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,445 shares of the bank’s stock worth $292,000 after purchasing an additional 4,285 shares during the last quarter. Finally, Aptus Capital Advisors LLC purchased a new stake in SmartFinancial during the 2nd quarter worth approximately $325,000. Institutional investors and hedge funds own 40.35% of the company’s stock.
SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). The firm had revenue of $29.22 million during the quarter, compared to analyst estimates of $23.22 million. SmartFinancial had a net margin of 20.91% and a return on equity of 7.82%. On average, research analysts forecast that SmartFinancial will post 1.61 EPS for the current year.
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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