BidaskClub cut shares of SmartFinancial (NASDAQ:SMBK) from a sell rating to a strong sell rating in a research note released on Thursday morning.

A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of SmartFinancial from a buy rating to a hold rating in a research report on Tuesday, September 4th. Hovde Group raised their target price on shares of SmartFinancial from $27.00 to $29.00 and gave the stock an outperform rating in a research report on Friday, June 29th. Finally, Stephens initiated coverage on shares of SmartFinancial in a research report on Tuesday, June 26th. They set an equal weight rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $26.80.

SMBK stock opened at $24.00 on Thursday. The company has a market capitalization of $304.92 million, a PE ratio of 18.75 and a beta of 0.09. SmartFinancial has a 12 month low of $19.49 and a 12 month high of $27.69. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29.

SmartFinancial (NASDAQ:SMBK) last announced its earnings results on Tuesday, July 24th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. SmartFinancial had a net margin of 11.64% and a return on equity of 7.08%. The firm had revenue of $21.12 million for the quarter, compared to analyst estimates of $20.40 million. equities analysts anticipate that SmartFinancial will post 1.57 EPS for the current fiscal year.

In related news, Director James Beaumont Wicks purchased 10,250 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were bought at an average price of $24.74 per share, with a total value of $253,585.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William L. Yoder sold 20,000 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $24.25, for a total transaction of $485,000.00. The disclosure for this sale can be found here. 11.96% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in SmartFinancial by 74.2% during the second quarter. BlackRock Inc. now owns 640,702 shares of the bank’s stock worth $16,503,000 after purchasing an additional 272,911 shares during the period. Banc Funds Co. LLC raised its stake in SmartFinancial by 7.5% during the first quarter. Banc Funds Co. LLC now owns 508,943 shares of the bank’s stock worth $11,991,000 after purchasing an additional 35,425 shares during the period. Renaissance Technologies LLC raised its stake in SmartFinancial by 35.2% during the second quarter. Renaissance Technologies LLC now owns 141,100 shares of the bank’s stock worth $3,635,000 after purchasing an additional 36,700 shares during the period. Northern Trust Corp raised its stake in SmartFinancial by 44.4% during the second quarter. Northern Trust Corp now owns 107,075 shares of the bank’s stock worth $2,759,000 after purchasing an additional 32,923 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in SmartFinancial by 109.5% during the second quarter. Dimensional Fund Advisors LP now owns 96,311 shares of the bank’s stock worth $2,481,000 after purchasing an additional 50,330 shares during the period. 36.59% of the stock is currently owned by institutional investors.

About SmartFinancial

SmartFinancial, Inc operates as the bank holding company for the SmartBank that provides various financial services to individuals and corporate customers in the United States. 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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