DA Davidson initiated coverage on shares of SmartFinancial (NASDAQ:SMBK) in a research note released on Wednesday, BenzingaRatingsTable reports. The firm issued a neutral rating on the bank’s stock.
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. ValuEngine lowered shares of Xylem from a buy rating to a hold rating in a research note on Tuesday, May 14th. Zacks Investment Research lowered shares of Zurich Insurance Group from a hold rating to a sell rating in a research note on Saturday, April 20th. Finally, FIG Partners reiterated an outperform rating on shares of SmartFinancial in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $23.00.
Shares of SMBK stock opened at $22.50 on Wednesday. The company has a market cap of $313.79 million, a price-to-earnings ratio of 14.06 and a beta of 0.55. The company’s fifty day simple moving average is $21.29. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. SmartFinancial has a 12 month low of $16.17 and a 12 month high of $26.28.
In other news, Director Monique Berke bought 4,000 shares of SmartFinancial stock in a transaction dated Thursday, May 9th. The stock was purchased at an average price of $21.21 per share, for a total transaction of $84,840.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 9.82% of the company’s stock.
Several large investors have recently modified their holdings of SMBK. Private Capital Management LLC boosted its holdings in shares of SmartFinancial by 74.3% in the 1st quarter. Private Capital Management LLC now owns 341,329 shares of the bank’s stock worth $6,455,000 after buying an additional 145,465 shares during the last quarter. Banc Funds Co. LLC boosted its holdings in shares of SmartFinancial by 14.7% in the 1st quarter. Banc Funds Co. LLC now owns 497,956 shares of the bank’s stock worth $9,416,000 after buying an additional 64,000 shares during the last quarter. Patriot Investment Management Inc. purchased a new position in shares of SmartFinancial in the 1st quarter worth about $898,000. Dimensional Fund Advisors LP boosted its holdings in shares of SmartFinancial by 25.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 169,936 shares of the bank’s stock worth $3,104,000 after buying an additional 34,372 shares during the last quarter. Finally, Context BH Capital Management LP boosted its holdings in shares of SmartFinancial by 25.5% in the 4th quarter. Context BH Capital Management LP now owns 156,947 shares of the bank’s stock worth $2,867,000 after buying an additional 31,933 shares during the last quarter. 38.73% of the stock is currently owned by institutional investors.
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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