SmartFinancial, Inc. (NASDAQ:SMBK – Get Rating) – Analysts at DA Davidson issued their Q3 2022 earnings per share 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 per share of $0.72 for the quarter. The consensus estimate for SmartFinancial's current full-year earnings is $2.66 per share.
Get SmartFinancial alerts:Several other brokerages have also issued reports on SMBK. Raymond James lowered SmartFinancial from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $33.00 to $27.00 in a report on Thursday, July 7th. Piper Sandler decreased their target price on SmartFinancial to $30.00 in a research report on Monday, July 4th. StockNews.com downgraded SmartFinancial from a "buy" rating to a "hold" rating in a research report on Monday, May 23rd. Finally, Stephens lifted their price objective on SmartFinancial to $30.00 and gave the company an "outperform" rating in a report on Wednesday, July 27th.
SmartFinancial Price Performance
SMBK opened at $25.68 on Wednesday. The stock has a fifty day moving average of $24.70 and a 200-day moving average of $25.32. The firm has a market capitalization of $433.99 million, a P/E ratio of 12.17 and a beta of 0.71. SmartFinancial has a 12-month low of $22.63 and a 12-month high of $28.63. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.19.SmartFinancial (NASDAQ:SMBK – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.61. SmartFinancial had a return on equity of 8.82% and a net margin of 21.34%. During the same quarter last year, the company posted $0.60 earnings per share.
SmartFinancial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Friday, August 12th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, August 11th. SmartFinancial's payout ratio is presently 13.27%.
Insider Buying and Selling
In other SmartFinancial news, Director John M. Presley sold 2,930 shares of the business's stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $25.78, for a total transaction of $75,535.40. Following the sale, the director now directly owns 69,643 shares of the company's stock, valued at approximately $1,795,396.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other SmartFinancial news, Director John M. Presley sold 3,540 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $26.02, for a total value 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 hyperlink. Also, Director John M. Presley sold 2,930 shares of the stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $25.78, for a total transaction of $75,535.40. Following the transaction, the director now owns 69,643 shares in the company, valued at approximately $1,795,396.54. The disclosure for this sale can be found here. Company insiders own 8.91% of the company's stock.
Institutional Trading of SmartFinancial
Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of SmartFinancial during the fourth quarter valued at $164,000. Assenagon Asset Management S.A. raised its position in SmartFinancial by 41.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 36,595 shares of the bank's stock worth $1,001,000 after acquiring an additional 10,780 shares during the period. Advisor Group Holdings Inc. raised its position in shares of SmartFinancial by 7.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,590 shares of the bank's stock valued at $208,000 after purchasing an additional 535 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in SmartFinancial during the fourth quarter valued at approximately $246,000. Finally, Salzhauer Michael grew its stake in SmartFinancial by 25.2% during the fourth quarter. Salzhauer Michael now owns 138,613 shares of the bank's stock valued at $3,792,000 after acquiring an additional 27,897 shares in the last quarter. Institutional investors and hedge funds own 49.11% of the company's stock.
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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