SmartFinancial (NASDAQ:SMBK) Lowered to “Neutral” at Piper Sandler

Piper Sandler cut shares of SmartFinancial (NASDAQ:SMBKGet Rating) from an overweight rating to a neutral rating in a research report released on Tuesday, The Fly reports.

Several other equities research analysts have also issued reports on SMBK. StockNews.com began coverage on shares of SmartFinancial in a report on Wednesday, October 12th. They issued a hold rating for the company. Hovde Group downgraded shares of SmartFinancial from an outperform rating to a market perform rating and set a $31.00 price target on the stock. in a research note on Wednesday, January 4th. Finally, DA Davidson downgraded shares of SmartFinancial from a buy rating to a neutral rating and set a $33.00 price target on the stock. in a research note on Monday, October 31st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $30.20.

SmartFinancial Price Performance

SMBK stock opened at $27.34 on Tuesday. SmartFinancial has a 52 week low of $22.63 and a 52 week high of $30.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $28.17 and a two-hundred day simple moving average of $26.83. The firm has a market capitalization of $461.72 million, a P/E ratio of 12.54 and a beta of 0.75.

SmartFinancial (NASDAQ:SMBKGet Rating) last released its quarterly earnings data on Monday, January 23rd. The bank reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The business had revenue of $54.44 million during the quarter, compared to analyst estimates of $45.29 million. SmartFinancial had a net margin of 21.36% and a return on equity of 9.30%. Analysts anticipate that SmartFinancial will post 2.55 earnings per share for the current fiscal year.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 29th. Investors of record on Monday, November 14th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.02%. The ex-dividend date was Thursday, November 10th. SmartFinancial’s dividend payout ratio is presently 12.84%.

Insider Buying and Selling at SmartFinancial

In other SmartFinancial news, Director Cathy G. Ackermann bought 5,000 shares of the business’s stock in a transaction on Monday, November 7th. The shares were acquired at an average price of $28.99 per share, with a total value of $144,950.00. Following the transaction, the director now owns 12,410 shares of the company’s stock, valued at approximately $359,765.90. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 729 shares of company stock valued at $20,981. Company insiders own 8.91% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SMBK. Amalgamated Bank purchased a new position in SmartFinancial during the 1st quarter valued at about $43,000. BNP Paribas Arbitrage SA grew its position in shares of SmartFinancial by 22.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,924 shares of the bank’s stock worth $95,000 after buying an additional 725 shares during the last quarter. HHM Wealth Advisors LLC grew its position in shares of SmartFinancial by 359.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 4,769 shares of the bank’s stock worth $131,000 after buying an additional 3,730 shares during the last quarter. BNP Paribas Arbitrage SNC grew its position in shares of SmartFinancial by 37.6% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 5,401 shares of the bank’s stock worth $133,000 after buying an additional 1,477 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of SmartFinancial in the 2nd quarter worth approximately $147,000. Hedge funds and other institutional investors own 44.79% of the company’s stock.

About SmartFinancial

(Get Rating)

SmartFinancial, Inc is a holding company, which engages in the provision of commercial banking services through SmartBank. The firm manages branches and loan production offices in a footprint spanning East Tennessee, Southwest Alabama, the Florida Panhandle, and North Georgia. It operates through the following portfolio segments: Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, and Consumer and Other.

Featured Stories

The Fly logo

Analyst Recommendations for SmartFinancial (NASDAQ:SMBK)

Receive News & Ratings for SmartFinancial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SmartFinancial and related companies with MarketBeat.com's FREE daily email newsletter.