SmartFinancial (SMBK) to Announce Earnings on Monday

SmartFinancial (NASDAQ:SMBK) is projected to issue its results after the market closes on Monday, July 20th. Analysts expect the company to post earnings of $0.90 per share and revenue of $55.7440 million for the quarter.

SmartFinancial Stock Performance

SMBK opened at $48.01 on Friday. SmartFinancial has a 1-year low of $32.63 and a 1-year high of $49.06. The company has a market cap of $820.79 million, a price-to-earnings ratio of 22.43 and a beta of 0.70. The company’s fifty day moving average price is $44.13 and its two-hundred day moving average price is $41.46. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.09 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from SmartFinancial’s previous quarterly dividend of $0.08. SmartFinancial’s dividend payout ratio (DPR) is currently 11.54%.

Analyst Upgrades and Downgrades

SMBK has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on shares of SmartFinancial from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Tuesday, April 21st. Benchmark assumed coverage on SmartFinancial in a report on Wednesday, June 24th. They set a “buy” rating and a $54.00 price objective for the company. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $50.00 price objective on shares of SmartFinancial in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Insider Activity

In other news, Director Cathy G. Ackermann bought 3,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $42.12 per share, for a total transaction of $126,360.00. Following the completion of the acquisition, the director directly owned 19,831 shares in the company, valued at approximately $835,281.72. This trade represents a 17.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Victor Lynn Barrett purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average cost of $43.78 per share, for a total transaction of $131,340.00. Following the completion of the transaction, the director directly owned 151,724 shares of the company’s stock, valued at $6,642,476.72. This represents a 2.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 6,290 shares of company stock valued at $269,677. 6.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SmartFinancial

Hedge funds and other institutional investors have recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new stake in shares of SmartFinancial during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its position in shares of SmartFinancial by 46.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after purchasing an additional 472 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of SmartFinancial by 173.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock valued at $64,000 after purchasing an additional 1,202 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of SmartFinancial during the 2nd quarter worth $128,000. Finally, Virtus Advisers LLC bought a new stake in shares of SmartFinancial during the 3rd quarter worth $149,000. Hedge funds and other institutional investors 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.