SmartFinancial, Inc. (NASDAQ:SMBK – Get Rating) – Research analysts at DA Davidson issued their Q3 2022 earnings estimates for shares of SmartFinancial in a research report issued on Tuesday, August 2nd. DA Davidson analyst K. Fitzsimmons anticipates that the bank will post earnings of $0.72 per share for the quarter. The consensus estimate for SmartFinancial's current full-year earnings is $2.66 per share.

Other equities analysts also recently issued reports about the stock. Stephens boosted their price target on shares of SmartFinancial to $30.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. Piper Sandler decreased their price target on SmartFinancial to $30.00 in a research report on Monday, July 4th. StockNews.com cut shares of SmartFinancial from a "buy" rating to a "hold" rating in a research report on Monday, May 23rd. Finally, Raymond James cut shares of SmartFinancial from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $33.00 to $27.00 in a research report on Thursday, July 7th.

SmartFinancial Stock Performance

SmartFinancial (NASDAQ:SMBK – Get Rating) last released its quarterly earnings data on Monday, July 25th. The bank reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. SmartFinancial had a net margin of 21.34% and a return on equity of 8.82%. During the same period last year, the company posted $0.60 earnings per share.

Hedge Funds Weigh In On SmartFinancial

Several large investors have recently modified their holdings of SMBK. EverSource Wealth Advisors LLC purchased a new stake in shares of SmartFinancial during the 4th quarter worth $27,000. Amalgamated Bank acquired a new stake in SmartFinancial during the first quarter worth about $43,000. Allspring Global Investments Holdings LLC acquired a new stake in SmartFinancial during the fourth quarter worth about $164,000. SG Americas Securities LLC purchased a new position in SmartFinancial during the second quarter worth approximately $147,000. Finally, BNP Paribas Arbitrage SA boosted its position in SmartFinancial by 81.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 6,441 shares of the bank's stock worth $176,000 after purchasing an additional 2,889 shares in the last quarter. Institutional investors own 49.11% of the company's stock.

Insider Buying and Selling

In related news, Director John M. Presley sold 3,540 shares of SmartFinancial stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $26.02, for a total value of $92,110.80. Following the completion of the sale, the director now directly owns 66,103 shares in the company, valued at approximately $1,720,000.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John M. Presley sold 3,540 shares of SmartFinancial stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $26.02, for a total transaction of $92,110.80. Following the transaction, the director now directly owns 66,103 shares of the company's stock, valued at approximately $1,720,000.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John M. Presley sold 2,930 shares of SmartFinancial stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $25.78, for a total value of $75,535.40. Following the transaction, the director now directly owns 69,643 shares in the company, valued at $1,795,396.54. The disclosure for this sale can be found here. 8.91% of the stock is owned by corporate insiders.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Friday, August 12th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, August 11th. This represents a $0.28 annualized dividend and a dividend yield of 1.07%. SmartFinancial's payout ratio is presently 13.27%.

About SmartFinancial

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

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