SmartFinancial, Inc. (NASDAQ:SMBK) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of SmartFinancial, Inc. (NASDAQ:SMBK) from a strong-buy rating to a hold rating in a research note released on Wednesday.
According to Zacks, “SmartFinancial, Inc. is a bank holding company which provide banking services to individuals and corporate through its subsidiaries SmartBank and Cornerstone Community Bank. It offers deposit products, loan products, e-banking services consisting of online bill payments, smart pay, e-statements, mobile banking as well as debit and credit cards. SmartFinancial, Inc. is based in Knoxville, Tennessee. “
Shares of SmartFinancial (NASDAQ SMBK) opened at 24.22 on Wednesday. SmartFinancial has a 12-month low of $14.60 and a 12-month high of $26.26. The stock has a market capitalization of $199.04 million, a price-to-earnings ratio of 29.39 and a beta of 0.30. The firm has a 50-day moving average of $24.17 and a 200 day moving average of $22.28.
SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.03. SmartFinancial had a return on equity of 5.72% and a net margin of 13.49%. The business had revenue of $11.50 million for the quarter, compared to analysts’ expectations of $11.10 million. Equities analysts forecast that SmartFinancial will post $0.95 earnings per share for the current fiscal year.
SmartFinancial, Inc, formerly Cornerstone Bancshares, Inc, is a bank holding company. The Company operates through its SmartBank subsidiary (The Bank). The principal business of the Bank consists of attracting deposits from the public and investing those funds, together with funds generated from operations and from principal and interest payments on loans.
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