SmartFinancial (SMBK) Set to Announce Quarterly Earnings on Monday

SmartFinancial (NASDAQ:SMBK) is scheduled to issue its quarterly earnings data after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $0.41 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). The business had revenue of $65.07 million during the quarter, compared to analyst estimates of $39.14 million. SmartFinancial had a net margin of 11.90% and a return on equity of 7.67%. During the same quarter last year, the company posted $0.76 earnings per share. On average, analysts expect SmartFinancial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

SmartFinancial Price Performance

SmartFinancial stock opened at $19.90 on Friday. The firm has a market cap of $339.43 million, a P/E ratio of 11.78 and a beta of 0.69. SmartFinancial has a one year low of $18.86 and a one year high of $25.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s 50 day moving average is $20.95 and its 200 day moving average is $21.95.

SmartFinancial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, February 1st. SmartFinancial’s dividend payout ratio (DPR) is presently 18.93%.

Analysts Set New Price Targets

SMBK has been the topic of a number of research reports. Stephens reiterated an “overweight” rating and set a $27.00 target price on shares of SmartFinancial in a research report on Tuesday, January 23rd. Raymond James boosted their price objective on SmartFinancial from $24.00 to $28.00 and gave the company a “strong-buy” rating in a report on Friday, January 5th. StockNews.com raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on SmartFinancial from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SmartFinancial currently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Insider Buying and Selling at SmartFinancial

In other news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total transaction of $51,782.22. Following the completion of the transaction, the executive vice president now owns 19,091 shares in the company, valued at approximately $412,938.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of SmartFinancial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of SmartFinancial by 5.9% during the first quarter. BlackRock Inc. now owns 1,330,956 shares of the bank’s stock valued at $30,798,000 after buying an additional 73,860 shares during the last quarter. Private Capital Management LLC increased its holdings in SmartFinancial by 12.5% during the 1st quarter. Private Capital Management LLC now owns 613,755 shares of the bank’s stock valued at $14,202,000 after purchasing an additional 68,229 shares during the period. Alliancebernstein L.P. lifted its holdings in SmartFinancial by 40.0% in the 2nd quarter. Alliancebernstein L.P. now owns 211,631 shares of the bank’s stock worth $4,552,000 after buying an additional 60,415 shares during the period. EAM Investors LLC purchased a new position in shares of SmartFinancial in the 4th quarter valued at approximately $1,252,000. Finally, JPMorgan Chase & Co. lifted its position in SmartFinancial by 56.9% during the second quarter. JPMorgan Chase & Co. now owns 107,483 shares of the bank’s stock valued at $2,597,000 after buying an additional 38,993 shares during the period. Hedge funds and other institutional investors own 58.78% of the company’s stock.

About SmartFinancial

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.