SmartFinancial (NASDAQ:SMBK) Price Target Raised to $41.00

SmartFinancial (NASDAQ:SMBK) had its target price increased by Hovde Group from $40.00 to $41.00 in a research note released on Thursday morning, MarketBeat Ratings reports. They currently have a market perform rating on the bank’s stock.

Several other equities research analysts have also weighed in on the company. Keefe, Bruyette & Woods upped their price objective on SmartFinancial from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $44.00 price objective (up from $42.00) on shares of SmartFinancial in a research note on Thursday, July 24th. Finally, Zacks Research lowered SmartFinancial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.50.

SmartFinancial Trading Up 2.9%

Shares of SMBK opened at $35.52 on Thursday. SmartFinancial has a 12-month low of $26.31 and a 12-month high of $37.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $604.55 million, a price-to-earnings ratio of 16.60 and a beta of 0.80. The stock’s 50-day moving average price is $35.98 and its 200 day moving average price is $33.68.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SMBK. Tripletail Wealth Management LLC acquired a new position in SmartFinancial during the 3rd quarter worth $35,000. EverSource Wealth Advisors LLC lifted its holdings in SmartFinancial by 46.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock worth $51,000 after buying an additional 472 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in SmartFinancial during the 1st quarter worth $61,000. Tower Research Capital LLC TRC lifted its holdings in SmartFinancial by 173.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock worth $64,000 after buying an additional 1,202 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in SmartFinancial by 19,400.0% during the 1st quarter. GAMMA Investing LLC now owns 2,145 shares of the bank’s stock worth $69,000 after buying an additional 2,134 shares in the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

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.