Zacks: Analysts Anticipate SmartFinancial Inc (NASDAQ:SMBK) to Announce $0.41 EPS

Analysts expect SmartFinancial Inc (NASDAQ:SMBK) to announce $0.41 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for SmartFinancial’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.39. SmartFinancial posted earnings of $0.34 per share in the same quarter last year, which suggests a positive year over year growth rate of 20.6%. The firm is expected to issue its next earnings report after the market closes on Monday, October 21st.

According to Zacks, analysts expect that SmartFinancial will report full-year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.78 to $1.88. For the next financial year, analysts expect that the company will report earnings of $1.69 per share, with EPS estimates ranging from $1.60 to $1.89. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for SmartFinancial.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $29.22 million for the quarter, compared to the consensus estimate of $23.22 million. SmartFinancial had a net margin of 20.91% and a return on equity of 7.82%.

SMBK has been the topic of a number of recent research reports. DA Davidson reissued a “neutral” rating on shares of SmartFinancial in a report on Monday, July 22nd. ValuEngine raised SmartFinancial from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub downgraded SmartFinancial from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Raymond James downgraded SmartFinancial from an “outperform” rating to a “market perform” rating in a report on Monday, July 29th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised SmartFinancial from a “sell” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.00.

A number of hedge funds have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in SmartFinancial by 46.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,445 shares of the bank’s stock valued at $292,000 after acquiring an additional 4,285 shares during the period. Equitable Trust Co. lifted its holdings in SmartFinancial by 101.3% in the second quarter. Equitable Trust Co. now owns 31,124 shares of the bank’s stock valued at $675,000 after acquiring an additional 15,664 shares during the period. Victory Capital Management Inc. lifted its holdings in SmartFinancial by 13.2% in the second quarter. Victory Capital Management Inc. now owns 74,600 shares of the bank’s stock valued at $1,618,000 after acquiring an additional 8,700 shares during the period. Bank of America Corp DE lifted its holdings in SmartFinancial by 6.0% in the second quarter. Bank of America Corp DE now owns 40,594 shares of the bank’s stock valued at $880,000 after acquiring an additional 2,286 shares during the period. Finally, Private Capital Management LLC lifted its holdings in SmartFinancial by 41.5% in the second quarter. Private Capital Management LLC now owns 483,099 shares of the bank’s stock valued at $10,478,000 after acquiring an additional 141,770 shares during the period. 40.35% of the stock is currently owned by institutional investors.

Shares of NASDAQ:SMBK traded up $0.16 during midday trading on Friday, reaching $20.58. 885 shares of the company’s stock traded hands, compared to its average volume of 35,200. The company has a market cap of $290.30 million, a price-to-earnings ratio of 13.35 and a beta of 0.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.00 and a current ratio of 1.00. SmartFinancial has a one year low of $16.17 and a one year high of $23.91. The stock has a 50 day moving average of $20.46 and a 200 day moving average of $20.78.

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, 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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Earnings History and Estimates for SmartFinancial (NASDAQ:SMBK)

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