SmartFinancial (NASDAQ:SMBK) Announces Earnings Results

SmartFinancial (NASDAQ:SMBK) posted its earnings results on Monday. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05, Yahoo Finance reports. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. The firm had revenue of $73.10 million during the quarter, compared to the consensus estimate of $42.32 million. During the same period last year, the company earned $0.43 earnings per share.

SmartFinancial Price Performance

SMBK stock opened at $32.11 on Thursday. The company has a market capitalization of $547.89 million, a P/E ratio of 20.58 and a beta of 0.69. SmartFinancial has a 52-week low of $19.00 and a 52-week high of $32.33. The business has a 50-day simple moving average of $29.07 and a two-hundred day simple moving average of $25.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Hovde Group raised their price objective on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a report on Wednesday. Stephens reiterated an “overweight” rating and issued a $27.00 target price on shares of SmartFinancial in a report on Tuesday, July 23rd. Raymond James raised their price target on shares of SmartFinancial from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday. Finally, Piper Sandler lowered shares of SmartFinancial from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $26.00 to $28.00 in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.50.

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, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.