BidaskClub downgraded shares of SmartFinancial (NASDAQ:SMBK) from a buy rating to a hold rating in a research note released on Tuesday morning, BidAskClub reports.

A number of other equities analysts have also recently weighed in on SMBK. ValuEngine upgraded SmartFinancial from a sell rating to a hold rating in a report on Tuesday, May 14th. FIG Partners reiterated an outperform rating on shares of SmartFinancial in a report on Thursday, April 25th. Zacks Investment Research upgraded SmartFinancial from a sell rating to a hold rating in a report on Saturday, April 20th. Finally, Sandler O’Neill began coverage on SmartFinancial in a report on Monday, March 4th. They set a buy rating for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $24.50.

NASDAQ SMBK opened at $20.94 on Tuesday. The firm has a market cap of $292.17 million, a PE ratio of 13.51 and a beta of 0.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. SmartFinancial has a twelve month low of $16.17 and a twelve month high of $27.69.

SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The business had revenue of $22.70 million for the quarter, compared to analysts’ expectations of $23.06 million. SmartFinancial had a return on equity of 7.91% and a net margin of 18.23%. As a group, equities analysts expect that SmartFinancial will post 1.7 earnings per share for the current year.

In other news, Director Monique Berke bought 4,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was bought at an average cost of $21.21 per share, for a total transaction of $84,840.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.82% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Equitable Trust Co. purchased a new stake in shares of SmartFinancial in the first quarter valued at approximately $292,000. Private Capital Management LLC boosted its stake in shares of SmartFinancial by 74.3% in the first quarter. Private Capital Management LLC now owns 341,329 shares of the bank’s stock valued at $6,455,000 after buying an additional 145,465 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of SmartFinancial by 84.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,160 shares of the bank’s stock valued at $175,000 after buying an additional 4,195 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of SmartFinancial in the first quarter valued at approximately $1,865,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of SmartFinancial by 9.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 26,440 shares of the bank’s stock valued at $500,000 after buying an additional 2,340 shares in the last quarter. Institutional investors own 38.73% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, Florida, and Georgia. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit.

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Analyst Recommendations for SmartFinancial (NASDAQ:SMBK)

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