SmartFinancial (NASDAQ:SMBK) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

SmartFinancial (NASDAQ:SMBK) had its price target boosted by analysts at Keefe, Bruyette & Woods from $46.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 0.04% from the stock’s current price.

A number of other analysts have also issued reports on the company. Benchmark increased their target price on SmartFinancial from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James Financial reiterated a “strong-buy” rating and set a $58.00 price target on shares of SmartFinancial in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.75.

SmartFinancial Stock Up 2.0%

Shares of NASDAQ:SMBK opened at $50.02 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $855.21 million, a PE ratio of 23.37 and a beta of 0.70. SmartFinancial has a 52 week low of $32.63 and a 52 week high of $50.12. The firm has a 50 day simple moving average of $44.94 and a 200 day simple moving average of $41.88.

Insider Activity at SmartFinancial

In related news, Director Victor Lynn Barrett purchased 3,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average cost of $43.78 per share, for a total transaction of $131,340.00. Following the acquisition, the director directly owned 151,724 shares in the company, valued at approximately $6,642,476.72. The trade was a 2.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cathy G. Ackermann purchased 3,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average cost of $42.12 per share, for a total transaction of $126,360.00. Following the completion of the purchase, the director directly owned 19,831 shares of the company’s stock, valued at $835,281.72. The trade was a 17.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 6,290 shares of company stock worth $269,677. Company insiders own 6.93% of the company’s stock.

Institutional Trading of SmartFinancial

A number of institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in SmartFinancial by 150.9% in the 1st quarter. AQR Capital Management LLC now owns 51,972 shares of the bank’s stock worth $1,615,000 after purchasing an additional 31,255 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of SmartFinancial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank’s stock valued at $295,000 after buying an additional 390 shares during the last quarter. Jane Street Group LLC grew its stake in shares of SmartFinancial by 263.2% in the 1st quarter. Jane Street Group LLC now owns 42,385 shares of the bank’s stock valued at $1,317,000 after buying an additional 30,715 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of SmartFinancial by 11.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 46,565 shares of the bank’s stock valued at $1,573,000 after buying an additional 4,639 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of SmartFinancial by 46.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after buying an additional 472 shares in the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

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.