Brokerages expect that SmartFinancial Inc (NASDAQ:SMBK) will report sales of $23.66 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for SmartFinancial’s earnings, with the highest sales estimate coming in at $24.01 million and the lowest estimate coming in at $23.30 million. SmartFinancial reported sales of $20.72 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 22nd.
On average, analysts expect that SmartFinancial will report full year sales of $93.50 million for the current fiscal year, with estimates ranging from $92.20 million to $94.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $99.58 million, with estimates ranging from $96.10 million to $103.06 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover SmartFinancial.
Several analysts recently issued reports on SMBK shares. Raymond James cut shares of 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. Zacks Investment Research raised shares of SmartFinancial from a “sell” rating to a “hold” 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 SmartFinancial from a “buy” rating to a “hold” rating in a research note on Tuesday, June 11th. Finally, ValuEngine raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. SmartFinancial has a consensus rating of “Hold” and a consensus price target of $23.00.
NASDAQ SMBK traded down $0.24 during trading hours on Monday, hitting $20.67. 1,332 shares of the company’s stock traded hands, compared to its average volume of 39,111. SmartFinancial has a 52-week low of $16.17 and a 52-week high of $25.99. The company has a market cap of $291.61 million, a P/E ratio of 13.42 and a beta of 0.56. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average is $21.78.
In related news, Director Monique Berke acquired 4,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average price of $21.21 per share, with a total value of $84,840.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.82% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new stake in SmartFinancial during the 2nd quarter worth approximately $26,000. BNP Paribas Arbitrage SA lifted its holdings in SmartFinancial by 519.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the bank’s stock worth $45,000 after buying an additional 1,985 shares in the last quarter. Bessemer Group Inc. acquired a new stake in SmartFinancial during the 2nd quarter worth approximately $67,000. Metropolitan Life Insurance Co. NY lifted its holdings in SmartFinancial by 356.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,111 shares of the bank’s stock worth $75,000 after buying an additional 3,211 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in SmartFinancial by 9.0% during the 1st quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock worth $251,000 after buying an additional 1,100 shares in the last quarter. 38.58% of the stock is owned by hedge funds and other institutional investors.
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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