SmartFinancial (SMBK) Set to Announce Earnings on Monday

Posted by Defense World Staff on Jul 17th, 2023

SmartFinancial (NASDAQ:SMBK – Get Free Report) is scheduled to be posting its quarterly earnings results after the market closes on Monday, July 24th. Analysts expect SmartFinancial to post earnings of $0.54 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

SmartFinancial (NASDAQ:SMBK – Get Free Report) last released its quarterly earnings results on Monday, April 24th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. SmartFinancial had a net margin of 22.39% and a return on equity of 10.81%. The business had revenue of $42.91 million for the quarter, compared to analysts’ expectations of $43.08 million. On average, analysts expect SmartFinancial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

SmartFinancial Stock Performance

Shares of SMBK stock opened at $22.37 on Monday. SmartFinancial has a 12 month low of $18.86 and a 12 month high of $30.50. The stock has a market cap of $380.29 million, a PE ratio of 8.16 and a beta of 0.73. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average price is $21.85 and its 200-day moving average price is $23.91.

SmartFinancial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 29th. Shareholders of record on Friday, May 12th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, May 11th. SmartFinancial’s dividend payout ratio (DPR) is 11.68%.

Insider Transactions at SmartFinancial

In related news, CEO William Young Jr. Carroll purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were bought at an average price of $19.34 per share, for a total transaction of $29,010.00. Following the acquisition, the chief executive officer now owns 113,472 shares of the company’s stock, valued at approximately $2,194,548.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director David Austin Ogle purchased 2,554 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were acquired at an average price of $19.48 per share, with a total value of $49,751.92. Following the transaction, the director now owns 188,545 shares of the company’s stock, valued at $3,672,856.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Young Jr. Carroll purchased 1,500 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were purchased at an average cost of $19.34 per share, for a total transaction of $29,010.00. Following the transaction, the chief executive officer now directly owns 113,472 shares in the company, valued at approximately $2,194,548.48. The disclosure for this purchase can be found here. Insiders have bought 11,429 shares of company stock valued at $228,219 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On SmartFinancial

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. bought a new stake in SmartFinancial during the first quarter valued at about $234,000. State Street Corp grew its stake in shares of SmartFinancial by 13.7% during the first quarter. State Street Corp now owns 299,389 shares of the bank’s stock worth $6,928,000 after acquiring an additional 36,166 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of SmartFinancial by 2.7% during the first quarter. Geode Capital Management LLC now owns 290,101 shares of the bank’s stock worth $6,713,000 after acquiring an additional 7,741 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of SmartFinancial by 3.9% during the first quarter. Two Sigma Advisers LP now owns 34,400 shares of the bank’s stock worth $796,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of SmartFinancial by 38.3% during the first quarter. Deutsche Bank AG now owns 9,657 shares of the bank’s stock worth $223,000 after acquiring an additional 2,676 shares during the last quarter. Institutional investors own 49.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SMBK shares. StockNews.com raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods reduced their price target on shares of SmartFinancial from $28.00 to $25.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, SmartFinancial currently has a consensus rating of “Hold” and a consensus target price of $29.50.

SmartFinancial Company Profile

(Get Free Report)

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.