Brokerages Set SmartFinancial Inc (NASDAQ:SMBK) Target Price at $23.50

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Shares of SmartFinancial Inc (NASDAQ:SMBK) have been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.50.

Several research analysts have recently issued reports on SMBK shares. Zacks Investment Research downgraded shares of Zurich Insurance Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 20th. FIG Partners reiterated an “outperform” rating on shares of SmartFinancial in a research note on Thursday, April 25th. DA Davidson started coverage on shares of Business First Bancshares in a research note on Wednesday. They issued a “neutral” rating and a $28.00 target price on the stock. ValuEngine downgraded shares of Xylem from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Finally, BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th.

Shares of NASDAQ SMBK remained flat at $$22.50 during midday trading on Tuesday. 44,926 shares of the stock traded hands, compared to its average volume of 40,112. The company has a 50 day moving average price of $21.29. The company has a market cap of $313.79 million, a PE ratio of 14.06 and a beta of 0.55. SmartFinancial has a 52-week low of $16.17 and a 52-week high of $26.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97.

SmartFinancial (NASDAQ:SMBK) last issued its earnings results on Wednesday, April 24th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $22.70 million during the quarter, compared to the consensus estimate of $23.06 million. SmartFinancial had a return on equity of 7.91% and a net margin of 18.23%. On average, sell-side analysts predict that SmartFinancial will post 1.7 earnings per share for the current year.

In related news, Director Monique Berke acquired 4,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $21.21 per share, for a total transaction of $84,840.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.82% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Private Capital Management LLC grew its position in SmartFinancial by 74.3% during the first quarter. Private Capital Management LLC now owns 341,329 shares of the bank’s stock valued at $6,455,000 after buying an additional 145,465 shares during the period. Banc Funds Co. LLC grew its position in SmartFinancial by 14.7% during the first quarter. Banc Funds Co. LLC now owns 497,956 shares of the bank’s stock valued at $9,416,000 after buying an additional 64,000 shares during the period. Salzhauer Michael grew its position in SmartFinancial by 86.2% during the first quarter. Salzhauer Michael now owns 53,671 shares of the bank’s stock valued at $1,015,000 after buying an additional 24,853 shares during the period. Acadian Asset Management LLC grew its position in SmartFinancial by 9.0% during the first quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock valued at $251,000 after buying an additional 1,100 shares during the period. Finally, Wasatch Advisors Inc. lifted its holdings in SmartFinancial by 6.3% during the first quarter. Wasatch Advisors Inc. now owns 190,508 shares of the bank’s stock valued at $3,603,000 after purchasing an additional 11,251 shares in the last quarter. Institutional investors own 38.73% of the company’s stock.

About SmartFinancial

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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Analyst Recommendations for SmartFinancial (NASDAQ:SMBK)

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