SmartFinancial Inc (NASDAQ:SMBK) Expected to Announce Earnings of $0.41 Per Share

Equities research analysts expect SmartFinancial Inc (NASDAQ:SMBK) to post $0.40 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for SmartFinancial’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.34. SmartFinancial reported earnings of $0.43 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 7%. The firm is scheduled to report its next quarterly earnings report on Monday, October 19th.

According to Zacks, analysts expect that SmartFinancial will report full year earnings of $1.49 per share for the current financial year, with EPS estimates ranging from $1.46 to $1.52. For the next financial year, analysts anticipate that the firm will report earnings of $1.20 per share, with EPS estimates ranging from $0.60 to $1.57. Zacks’ EPS averages are an average based on a survey of research analysts that cover SmartFinancial.

SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.29 by $0.12. SmartFinancial had a return on equity of 7.55% and a net margin of 17.47%. The firm had revenue of $29.26 million for the quarter, compared to analyst estimates of $27.74 million.

Several equities research analysts have issued reports on SMBK shares. Zacks Investment Research upgraded SmartFinancial from a “sell” rating to a “hold” rating in a report on Friday, May 8th. BidaskClub upgraded SmartFinancial from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 9th. Finally, Raymond James upgraded SmartFinancial from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $23.00.

SMBK stock traded down $0.36 during midday trading on Friday, hitting $14.26. 33,034 shares of the company’s stock were exchanged, compared to its average volume of 22,681. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.49. SmartFinancial has a 12-month low of $11.05 and a 12-month high of $23.99. The firm has a 50 day moving average price of $14.97 and a 200-day moving average price of $16.52. The stock has a market capitalization of $216.99 million, a price-to-earnings ratio of 9.51 and a beta of 0.82.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Friday, August 7th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.40%. SmartFinancial’s dividend payout ratio (DPR) is 11.90%.

In related news, Director Clifton N. Miller sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $16.90, for a total transaction of $84,500.00. Following the completion of the transaction, the director now directly owns 92,751 shares in the company, valued at approximately $1,567,491.90. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.94% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its stake in SmartFinancial by 45.0% during the 4th quarter. Bank of Montreal Can now owns 1,617 shares of the bank’s stock worth $38,000 after buying an additional 502 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in SmartFinancial by 28.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,938 shares of the bank’s stock worth $60,000 after acquiring an additional 881 shares during the period. First Trust Advisors LP boosted its position in SmartFinancial by 2.9% during the 2nd quarter. First Trust Advisors LP now owns 33,751 shares of the bank’s stock worth $546,000 after acquiring an additional 953 shares during the period. Strs Ohio boosted its position in SmartFinancial by 8.7% during the 2nd quarter. Strs Ohio now owns 13,800 shares of the bank’s stock worth $223,000 after acquiring an additional 1,100 shares during the period. Finally, State Street Corp boosted its position in SmartFinancial by 0.6% during the 1st quarter. State Street Corp now owns 213,024 shares of the bank’s stock worth $3,240,000 after acquiring an additional 1,313 shares during the period. Hedge funds and other institutional investors own 40.40% of the company’s stock.

SmartFinancial Company Profile

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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