SmartFinancial Inc (NASDAQ:SMBK) Director Steven B. Tucker acquired 2,480 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was acquired at an average price of $23.25 per share, with a total value of $57,660.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of SmartFinancial Inc (NASDAQ:SMBK) remained flat at $$23.18 during mid-day trading on Friday. 3,128 shares of the company traded hands, compared to its average volume of 26,285. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.21. The stock has a market cap of $259.62, a price-to-earnings ratio of 39.29 and a beta of 0.23. SmartFinancial Inc has a twelve month low of $20.10 and a twelve month high of $26.26.
SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings data on Wednesday, January 31st. The bank reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.15. The firm had revenue of $16.92 million during the quarter, compared to analysts’ expectations of $14.60 million. SmartFinancial had a net margin of 8.80% and a return on equity of 5.69%. sell-side analysts expect that SmartFinancial Inc will post 1.5 earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company purchased a new position in SmartFinancial in the second quarter worth approximately $177,000. New York State Common Retirement Fund purchased a new position in SmartFinancial in the second quarter worth approximately $184,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in SmartFinancial in the fourth quarter worth approximately $184,000. Wells Fargo & Company MN lifted its stake in SmartFinancial by 323.1% in the fourth quarter. Wells Fargo & Company MN now owns 12,595 shares of the bank’s stock worth $274,000 after acquiring an additional 9,618 shares during the last quarter. Finally, California State Teachers Retirement System purchased a new position in SmartFinancial in the second quarter worth approximately $303,000. Institutional investors own 31.30% of the company’s stock.
A number of brokerages recently weighed in on SMBK. BidaskClub upgraded shares of SmartFinancial from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Zacks Investment Research upgraded shares of SmartFinancial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, March 14th.
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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 loans.
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