Stephens Begins Coverage on SmartFinancial (SMBK)

Stephens initiated coverage on shares of SmartFinancial (NASDAQ:SMBK) in a report issued on Tuesday, MarketBeat reports. The firm issued an equal weight rating and a $27.00 price objective on the bank’s stock.

Other analysts have also recently issued reports about the stock. BidaskClub upgraded shares of SmartFinancial from a buy rating to a strong-buy rating in a report on Friday, May 25th. Keefe, Bruyette & Woods assumed coverage on shares of SmartFinancial in a report on Monday, April 9th. They set a market perform rating and a $26.00 price target for the company. Raymond James raised their price target on shares of SmartFinancial from $25.00 to $26.00 and gave the stock an outperform rating in a report on Thursday, April 26th. Finally, Zacks Investment Research cut shares of SmartFinancial from a buy rating to a hold rating in a report on Thursday, April 5th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $26.80.

SMBK stock opened at $25.76 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $290.12 million, a P/E ratio of 23.21 and a beta of 0.15. SmartFinancial has a 52 week low of $20.50 and a 52 week high of $27.50.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings results on Tuesday, April 24th. The bank reported $0.30 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.04). The company had revenue of $18.45 million for the quarter, compared to analyst estimates of $17.80 million. SmartFinancial had a return on equity of 6.37% and a net margin of 10.26%. analysts anticipate that SmartFinancial will post 1.55 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Banc Funds Co. LLC lifted its stake in SmartFinancial by 7.5% in the first 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 during the last quarter. BlackRock Inc. lifted its stake in SmartFinancial by 9.2% in the first quarter. BlackRock Inc. now owns 367,791 shares of the bank’s stock valued at $8,664,000 after acquiring an additional 30,943 shares during the last quarter. Forest Hill Capital LLC lifted its stake in SmartFinancial by 8.9% in the fourth quarter. Forest Hill Capital LLC now owns 309,868 shares of the bank’s stock valued at $6,724,000 after acquiring an additional 25,405 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in SmartFinancial by 42.7% in the first quarter. Wasatch Advisors Inc. now owns 177,382 shares of the bank’s stock valued at $4,179,000 after acquiring an additional 53,052 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in SmartFinancial by 106.0% in the fourth quarter. Deutsche Bank AG now owns 48,875 shares of the bank’s stock valued at $1,059,000 after acquiring an additional 25,152 shares during the last quarter. Hedge funds and other institutional investors own 35.74% of the company’s stock.

About SmartFinancial

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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