SmartFinancial Receives Upgrade to Hold Status from StockNews.com

On a recent Monday, SmartFinancial (NASDAQ:SMBK), experienced an upgrade in their stock rating by StockNews.com, enhancing their status from 'sell' to 'hold'. This revision in rating reflects an analysis of the company's performance and potential.

An Overview of Analysts' Perspectives

SmartFinancial's stock has seen a range of assessments from various equity analysts. Piper Sandler increased their price objective from $23.50 to $25.00 previously, recognizing the company's prospective growth. Stephens adjusted its target for SmartFinancial's shares from $27.00 down to $25.00 while still maintaining an 'overweight' rating. Conversely, Raymond James reduced their price target from $30.00 to $24.00, yet simultaneously assigned a 'strong-buy' rating. TheStreet also improved SmartFinancial's designation from a 'c+' to a 'b-' rating. With these diverse viewpoints, SmartFinancial has acquired an average 'Hold' rating and an average price target of $26.67 from analysts.

Performance and Dividend Details

The bank started trading at $21.82 on the day of the upgrade. With market fluctuations, the stock has observed a 52-week low of $18.86 and a high of $30.50. The company's market capitalization stands at $370.83 million, with a P/E ratio of 10.44 and a beta of 0.74. SmartFinancial's financial structure shows a debt-to-equity ratio of 0.13, hinting at a responsible level of borrowing relative to its equity. A quick ratio of 0.84 and a current ratio of 0.88 indicate liquidity and ability to meet short-term obligations. The bank's shares have been following a 50-day simple moving average of $21.42 and a 200-day simple moving average of $22.25.

Despite not meeting the consensus estimate for quarterly earnings by $0.04 and reporting $0.43 earnings per share, the bank's revenue was registered at $31.70 million for the quarter. Analysts are predicting that SmartFinancial will post earnings of $2.05 per share for the current fiscal year. SmartFinancial has also announced that it will be disbursing a $0.08 quarterly dividend per share, which equates to a $0.32 annualized dividend and a yield of 1.47%. The relevant ex-dividend date is noted as Friday, November 10th.

Institutional Involvement in SmartFinancial

Institutional investors and hedge funds have shown interest in SmartFinancial. There has been recent activity with several notable investments. American International Group Inc. increased their holdings by 5.7%, while Rhumbline Advisers, Charles Schwab Investment Management Inc., BNP Paribas Arbitrage SA, and First Trust Advisors LP also reported increases in their investments in the bank. These movements reflect a broader interest by institutional investors who presently hold 49.32% of the company's stock.

SmartFinancial operates as a holding company for SmartBank, delivering a variety of financial services across Tennessee, Alabama, and Florida. It caters to both individual customers and businesses through multiple segments such as Commercial Real Estate, Consumer Real Estate, and others.

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