SmartFinancial Inc (SMBK) Cut to Hold at Zacks Investment Research

SmartFinancial Inc (SMBK) Cut to Hold at Zacks Investment Research

According to Zacks, “SmartFinancial, Inc. is a bank holding company which provide banking services to individuals and corporate through its subsidiaries SmartBank and Cornerstone Community Bank. It offers deposit products, loan products, e-banking services consisting of online bill payments, smart pay, e-statements, mobile banking as well as debit and credit cards. SmartFinancial, Inc. is based in Knoxville, Tennessee. “

Zacks Investment Research lowered shares of SmartFinancial Inc (NASDAQ:SMBK) from a buy rating to a hold rating in a research report released on Thursday.

SMBK has been the subject of a number of other research reports. Hovde Group boosted their target price on shares of SmartFinancial from $19.50 to $25.00 and gave the company an outperform rating in a research report on Friday, February 3rd. Raymond James Financial, Inc. assumed coverage on shares of SmartFinancial in a research report on Monday, January 30th. They issued an outperform rating and a $23.00 target price for the company.

SmartFinancial (NASDAQ:SMBK) opened at 23.35 on Thursday. The stock’s 50 day moving average is $22.18 and its 200-day moving average is $20.63. The company has a market capitalization of $191.75 million, a P/E ratio of 29.97 and a beta of 0.37. SmartFinancial has a 12-month low of $14.21 and a 12-month high of $23.45.

SmartFinancial (NASDAQ:SMBK) last announced its earnings results on Tuesday, April 25th. The bank reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. The company had revenue of $10.75 million during the quarter, compared to analysts’ expectations of $10.98 million. SmartFinancial had a net margin of 12.40% and a return on equity of 5.26%. On average, equities analysts predict that SmartFinancial will post $0.95 earnings per share for the current fiscal year.

SmartFinancial Company Profile

SmartFinancial, Inc, formerly Cornerstone Bancshares, Inc, is a bank holding company. The Company operates through its SmartBank subsidiary (The Bank). The principal business of the Bank consists of attracting deposits from the public and investing those funds, together with funds generated from operations and from principal and interest payments on TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SMBK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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