Zacks Investment Research upgraded shares of SmartFinancial (NASDAQ:SMBK) from a hold rating to a buy rating in a research note published on Thursday. Zacks Investment Research currently has $22.00 price objective on the bank’s stock.

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. “

Other analysts also recently issued research reports about the company. Sandler O’Neill began coverage on SmartFinancial in a research note on Monday, March 4th. They set a buy rating on the stock. BidaskClub downgraded SmartFinancial from a sell rating to a strong sell rating in a research note on Saturday, January 19th. Finally, FIG Partners began coverage on SmartFinancial in a research note on Friday, February 22nd. They set an outperform rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $24.80.

Shares of SmartFinancial stock opened at $20.24 on Thursday. The firm has a market cap of $281.47 million, a P/E ratio of 13.06 and a beta of 0.52. SmartFinancial has a 12 month low of $16.17 and a 12 month high of $27.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98.

SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.05. The business had revenue of $23.13 million for the quarter, compared to the consensus estimate of $21.60 million. SmartFinancial had a return on equity of 8.30% and a net margin of 18.30%. On average, analysts expect that SmartFinancial will post 1.78 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc increased its holdings in SmartFinancial by 12.2% during the 3rd quarter. Vanguard Group Inc now owns 478,992 shares of the bank’s stock worth $11,280,000 after purchasing an additional 52,140 shares in the last quarter. Vanguard Group Inc. increased its holdings in SmartFinancial by 12.2% during the 3rd quarter. Vanguard Group Inc. now owns 478,992 shares of the bank’s stock worth $11,280,000 after purchasing an additional 52,140 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in SmartFinancial by 25.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 169,936 shares of the bank’s stock worth $3,104,000 after purchasing an additional 34,372 shares in the last quarter. Context BH Capital Management LP increased its holdings in SmartFinancial by 25.5% during the 4th quarter. Context BH Capital Management LP now owns 156,947 shares of the bank’s stock worth $2,867,000 after purchasing an additional 31,933 shares in the last quarter. Finally, Penn Capital Management Co. Inc. increased its holdings in SmartFinancial by 4.9% during the 4th quarter. Penn Capital Management Co. Inc. now owns 136,180 shares of the bank’s stock worth $2,488,000 after purchasing an additional 6,408 shares in the last quarter. Hedge funds and other institutional investors own 35.74% of the company’s stock.

SmartFinancial Company Profile

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.

Read More: What are the most popular ETFs

Get a free copy of the Zacks research report on SmartFinancial (SMBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for SmartFinancial (NASDAQ:SMBK)

Receive News & Ratings for SmartFinancial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SmartFinancial and related companies with MarketBeat.com's FREE daily email newsletter.