SmartFinancial (NASDAQ:SMBK) Posts Earnings Results, Beats Expectations By $0.05 EPS

SmartFinancial (NASDAQ:SMBK) issued its quarterly earnings data on Monday. The bank reported $0.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $73.10 million during the quarter, compared to the consensus estimate of $42.32 million. During the same period in the previous year, the firm posted $0.43 earnings per share.

SmartFinancial Price Performance

SmartFinancial stock traded up $1.06 during mid-day trading on Wednesday, hitting $32.11. The company’s stock had a trading volume of 108,532 shares, compared to its average volume of 45,570. The stock has a market capitalization of $547.89 million, a P/E ratio of 20.32 and a beta of 0.69. SmartFinancial has a twelve month low of $19.00 and a twelve month high of $32.33. The stock’s fifty day moving average price is $28.97 and its two-hundred day moving average price is $25.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12.

SmartFinancial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, August 9th. SmartFinancial’s dividend payout ratio is presently 20.51%.

Wall Street Analyst Weigh In

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

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