SmartFinancial (SMBK) Projected to Release Earnings on Monday

SmartFinancial (NASDAQ:SMBK) is expected to release its results after the market closes on Monday, July 20th. Analysts expect the company to announce earnings of $0.90 per share and revenue of $55.7440 million for the quarter.

SmartFinancial Price Performance

SMBK stock opened at $46.47 on Monday. The firm has a 50 day moving average of $43.60 and a 200-day moving average of $41.15. The firm has a market capitalization of $794.60 million, a P/E ratio of 21.72 and a beta of 0.70. SmartFinancial has a 12 month low of $32.63 and a 12 month high of $49.06. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.09 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.36 annualized dividend and a yield of 0.8%. This is a boost from SmartFinancial’s previous quarterly dividend of $0.08. SmartFinancial’s dividend payout ratio is currently 11.54%.

Insider Buying and Selling at SmartFinancial

In other news, Director Cathy G. Ackermann purchased 3,000 shares of the stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $42.12 per share, for a total transaction of $126,360.00. Following the completion of the transaction, the director directly owned 19,831 shares of the company’s stock, valued at approximately $835,281.72. This trade represents a 17.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Victor Lynn Barrett purchased 3,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were purchased at an average cost of $43.78 per share, with a total value of $131,340.00. Following the purchase, the director owned 151,724 shares of the company’s stock, valued at approximately $6,642,476.72. The trade was a 2.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 6,290 shares of company stock valued at $269,677 over the last quarter. 6.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On SmartFinancial

Institutional investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in shares of SmartFinancial during the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its position in SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after acquiring an additional 472 shares during the last quarter. Tower Research Capital LLC TRC grew its position in SmartFinancial by 173.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock valued at $64,000 after acquiring an additional 1,202 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of SmartFinancial during the second quarter worth approximately $128,000. Finally, Virtus Advisers LLC purchased a new position in shares of SmartFinancial during the third quarter worth approximately $149,000. 58.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Benchmark started coverage on shares of SmartFinancial in a report on Wednesday, June 24th. They issued a “buy” rating and a $54.00 price target for the company. Keefe, Bruyette & Woods upped their price target on shares of SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $50.00 price objective on shares of SmartFinancial in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, SmartFinancial has a consensus rating of “Moderate Buy” and an average price target of $47.50.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.