BidaskClub upgraded shares of SmartFinancial (NASDAQ:SMBK) from a strong sell rating to a sell rating in a report released on Thursday morning, BidAskClub reports.

SMBK has been the subject of several other research reports. DA Davidson reiterated a neutral rating on shares of SmartFinancial in a research note on Monday, July 22nd. Raymond James cut shares of SmartFinancial from an outperform rating to a market perform rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Finally, ValuEngine cut shares of SmartFinancial from a hold rating to a sell rating in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. SmartFinancial has an average rating of Hold and an average target price of $23.00.

SmartFinancial stock traded up $0.32 during midday trading on Thursday, hitting $21.97. The company’s stock had a trading volume of 5,035 shares, compared to its average volume of 31,011. SmartFinancial has a 1-year low of $16.17 and a 1-year high of $24.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average price of $20.38 and a two-hundred day moving average price of $20.58. The company has a market cap of $267.84 million, a price-to-earnings ratio of 14.21 and a beta of 0.63.

SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). SmartFinancial had a return on equity of 7.82% and a net margin of 20.91%. The business had revenue of $29.22 million during the quarter, compared to analyst estimates of $23.22 million. Sell-side analysts forecast that SmartFinancial will post 1.61 EPS for the current year.

Several large investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of SmartFinancial by 46.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,445 shares of the bank’s stock valued at $292,000 after buying an additional 4,285 shares in the last quarter. Equitable Trust Co. grew its holdings in shares of SmartFinancial by 101.3% during the 2nd quarter. Equitable Trust Co. now owns 31,124 shares of the bank’s stock valued at $675,000 after purchasing an additional 15,664 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of SmartFinancial by 13.2% during the 2nd quarter. Victory Capital Management Inc. now owns 74,600 shares of the bank’s stock valued at $1,618,000 after purchasing an additional 8,700 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of SmartFinancial by 6.0% during the 2nd quarter. Bank of America Corp DE now owns 40,594 shares of the bank’s stock valued at $880,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Private Capital Management LLC grew its holdings in shares of SmartFinancial by 41.5% during the 2nd quarter. Private Capital Management LLC now owns 483,099 shares of the bank’s stock valued at $10,478,000 after purchasing an additional 141,770 shares during the last quarter. Institutional investors own 40.35% 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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