SmartFinancial (NASDAQ:SMBK) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other research analysts have also recently weighed in on the stock. ValuEngine upgraded shares of 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 research note on Thursday, April 25th. Zacks Investment Research upgraded shares of SmartFinancial from a “sell” rating to a “hold” rating in a research note on Saturday, April 20th. Finally, Sandler O’Neill initiated coverage on shares of SmartFinancial in a research note on Monday, March 4th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. SmartFinancial presently has an average rating of “Buy” and an average price target of $24.50.

SmartFinancial stock opened at $20.96 on Tuesday. SmartFinancial has a fifty-two week low of $16.17 and a fifty-two week high of $27.69. The stock has a market cap of $286.67 million, a P/E ratio of 13.52 and a beta of 0.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97.

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 the consensus estimate of $0.43 by ($0.04). SmartFinancial had a return on equity of 7.91% and a net margin of 18.23%. The firm had revenue of $22.70 million for the quarter, compared to analysts’ expectations of $23.06 million. As a group, research analysts anticipate that SmartFinancial will post 1.7 earnings per share for the current year.

In related news, Director Monique Berke bought 4,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $21.21 per share, for a total transaction of $84,840.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.82% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMBK. BNP Paribas Arbitrage SA boosted its stake in SmartFinancial by 519.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,985 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of SmartFinancial by 356.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,111 shares of the bank’s stock valued at $75,000 after buying an additional 3,211 shares in the last quarter. Citigroup Inc. lifted its stake in shares of SmartFinancial by 70.8% during the 1st quarter. Citigroup Inc. now owns 5,216 shares of the bank’s stock valued at $99,000 after buying an additional 2,162 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of SmartFinancial by 84.5% during the 1st 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. Finally, Acadian Asset Management LLC lifted its stake in shares of SmartFinancial by 9.0% during the 1st quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock valued at $251,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 38.73% of the company’s stock.

About SmartFinancial

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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