SmartFinancial (NASDAQ:SMBK) Receives New Coverage from Analysts at DA Davidson

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DA Davidson started coverage on shares of SmartFinancial (NASDAQ:SMBK) in a report published on Wednesday morning, BenzingaRatingsTable reports. The firm issued a neutral rating on the bank’s stock.

A number of other equities analysts have also commented on SMBK. FIG Partners restated an outperform rating on shares of SmartFinancial in a research report on Thursday, April 25th. BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. 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. Finally, ValuEngine downgraded shares of Xylem from a buy rating to a hold rating in a research note on Tuesday, May 14th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $23.00.

NASDAQ:SMBK opened at $22.50 on Wednesday. The firm has a market capitalization of $313.79 million, a price-to-earnings ratio of 14.06 and a beta of 0.55. SmartFinancial has a 12 month low of $16.17 and a 12 month 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. The company has a 50-day moving average price of $21.29.

SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.04). The firm had revenue of $22.70 million during the quarter, compared to analyst estimates of $23.06 million. SmartFinancial had a net margin of 18.23% and a return on equity of 7.91%. Analysts expect that SmartFinancial will post 1.7 earnings per share for the current fiscal year.

In related news, Director Monique Berke bought 4,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was bought at an average cost of $21.21 per share, with a total value of $84,840.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.82% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its stake 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 worth $251,000 after acquiring an additional 1,100 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake 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 worth $45,000 after acquiring an additional 1,985 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake 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 worth $75,000 after acquiring an additional 3,211 shares during the last quarter. Rhumbline Advisers raised its stake in shares of SmartFinancial by 44.8% in the fourth quarter. Rhumbline Advisers now owns 15,938 shares of the bank’s stock worth $291,000 after acquiring an additional 4,934 shares during the last quarter. Finally, Penn Capital Management Co. Inc. raised its stake in shares of SmartFinancial by 4.1% in the first quarter. Penn Capital Management Co. Inc. now owns 141,781 shares of the bank’s stock worth $2,681,000 after acquiring an additional 5,601 shares during the last quarter. 38.73% of the stock is owned by institutional investors.

SmartFinancial Company Profile

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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