Brokerages expect that SmartFinancial Inc (NASDAQ:SMBK) will report $23.22 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for SmartFinancial’s earnings, with estimates ranging from $22.90 million to $23.54 million. SmartFinancial reported sales of $21.12 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.9%. The firm is expected to report its next quarterly earnings report on Tuesday, July 23rd.
On average, analysts expect that SmartFinancial will report full-year sales of $94.74 million for the current fiscal year, with estimates ranging from $94.00 million to $95.47 million. For the next year, analysts anticipate that the business will post sales of $101.43 million, with estimates ranging from $98.30 million to $104.56 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow SmartFinancial.
SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.04). SmartFinancial had a return on equity of 7.91% and a net margin of 18.23%. The company had revenue of $22.70 million during the quarter, compared to analyst estimates of $23.06 million.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised SmartFinancial from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Thursday, March 14th. BidaskClub cut SmartFinancial from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. FIG Partners reissued an “outperform” rating on shares of SmartFinancial in a report on Thursday, April 25th. Sandler O’Neill assumed coverage on SmartFinancial in a report on Monday, March 4th. They issued a “buy” rating for the company. Finally, ValuEngine raised SmartFinancial from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $24.50.
NASDAQ SMBK opened at $20.96 on Thursday. SmartFinancial has a fifty-two week low of $16.17 and a fifty-two week high of $27.69. The firm has a market capitalization of $286.67 million, a PE ratio of 13.52 and a beta of 0.53. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.
In other SmartFinancial news, Director Monique Berke acquired 4,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was acquired at an average price of $21.21 per share, with a total value of $84,840.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.82% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its position in shares of SmartFinancial by 9.0% in the first quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock valued at $251,000 after purchasing an additional 1,100 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of SmartFinancial by 519.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,985 shares during the period. Citigroup Inc. grew its position in shares of SmartFinancial by 70.8% in the first quarter. Citigroup Inc. now owns 5,216 shares of the bank’s stock valued at $99,000 after purchasing an additional 2,162 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of SmartFinancial by 9.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 26,440 shares of the bank’s stock valued at $500,000 after purchasing an additional 2,340 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of SmartFinancial by 356.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,111 shares of the bank’s stock valued at $75,000 after purchasing an additional 3,211 shares during the period. 38.73% of the stock is owned by institutional investors and hedge funds.
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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