SmartFinancial (NASDAQ:SMBK) Price Target Raised to $52.00

SmartFinancial (NASDAQ:SMBK) had its target price boosted by Keefe, Bruyette & Woods from $51.00 to $52.00 in a research report released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

A number of other equities research analysts have also weighed in on the company. Benchmark boosted their price target on SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Stephens upped their price objective on shares of SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, Raymond James Financial lowered shares of SmartFinancial from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $58.00 to $56.00 in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.42.

SmartFinancial Stock Up 0.3%

Shares of SMBK stock opened at $49.35 on Wednesday. The stock’s fifty day moving average price is $50.77 and its 200 day moving average price is $47.13. SmartFinancial has a 1-year low of $34.22 and a 1-year high of $54.14. The company has a market cap of $843.74 million, a price-to-earnings ratio of 23.06 and a beta of 0.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90.

Hedge Funds Weigh In On SmartFinancial

Several hedge funds have recently made changes to their positions in SMBK. USA Financial Formulas acquired a new stake in SmartFinancial during the 3rd quarter worth about $48,000. Fortitude Family Office LLC increased its holdings in shares of SmartFinancial by 3,096.3% in the third quarter. Fortitude Family Office LLC now owns 863 shares of the bank’s stock valued at $43,000 after purchasing an additional 836 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of SmartFinancial by 1,374.1% in the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock valued at $42,000 after purchasing an additional 797 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of SmartFinancial in the second quarter valued at about $371,000. Finally, Engineers Gate Manager LP raised its stake in shares of SmartFinancial by 17.7% in the second quarter. Engineers Gate Manager LP now owns 6,570 shares of the bank’s stock worth $308,000 after purchasing an additional 990 shares during the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.

About SmartFinancial

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank’s products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.