SmartFinancial (NASDAQ:SMBK) Lowered to “Sell” at StockNews.com

Posted by Defense World Staff on Jul 21st, 2023

SmartFinancial (NASDAQ:SMBK – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, Keefe, Bruyette & Woods dropped their price target on SmartFinancial from $28.00 to $25.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.50.

SmartFinancial Trading Up 0.5 %

Shares of SmartFinancial stock opened at $24.57 on Friday. The firm has a fifty day moving average price of $22.13 and a 200 day moving average price of $23.85. The stock has a market cap of $417.69 million, a PE ratio of 8.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. SmartFinancial has a 1 year low of $18.86 and a 1 year high of $30.50.

SmartFinancial (NASDAQ:SMBK – Get Free Report) last issued its quarterly earnings results on Monday, April 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The company had revenue of $42.91 million for the quarter, compared to the consensus estimate of $43.08 million. SmartFinancial had a return on equity of 10.81% and a net margin of 22.39%. Equities research analysts predict that SmartFinancial will post 2.28 earnings per share for the current year.

Insider Activity at SmartFinancial

In other SmartFinancial news, Director David Austin Ogle bought 2,554 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were purchased at an average cost of $19.48 per share, with a total value of $49,751.92. Following the purchase, the director now directly owns 188,545 shares in the company, valued at $3,672,856.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David Austin Ogle acquired 2,554 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were bought at an average cost of $19.48 per share, with a total value of $49,751.92. Following the transaction, the director now owns 188,545 shares in the company, valued at approximately $3,672,856.60. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Geoffrey Alan Wolpert bought 2,500 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average price of $20.01 per share, with a total value of $50,025.00. Following the purchase, the director now owns 93,926 shares of the company’s stock, valued at approximately $1,879,459.26. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 11,429 shares of company stock worth $228,219. 7.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SmartFinancial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its position in shares of SmartFinancial by 43.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,180 shares of the bank’s stock worth $286,000 after acquiring an additional 3,365 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of SmartFinancial by 17.1% during the first quarter. Bank of New York Mellon Corp now owns 73,735 shares of the bank’s stock worth $1,887,000 after buying an additional 10,757 shares during the period. American Century Companies Inc. grew its holdings in shares of SmartFinancial by 28.2% during the first quarter. American Century Companies Inc. now owns 44,839 shares of the bank’s stock worth $1,147,000 after buying an additional 9,858 shares during the last quarter. MetLife Investment Management LLC increased its position in SmartFinancial by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 8,657 shares of the bank’s stock valued at $221,000 after acquiring an additional 3,195 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in SmartFinancial by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 443,114 shares of the bank’s stock valued at $11,335,000 after acquiring an additional 16,096 shares during the last quarter. 49.71% of the stock is currently owned by institutional investors and hedge funds.

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.