$ 36.48 million in expected sales for SmartFinancial, Inc. (NASDAQ: SMBK) this quarter
Wall Street brokerages expect SmartFinancial, Inc. (NASDAQ: SMBK) to post sales of $ 36.48 million for the current fiscal quarter, Zacks reports. Three analysts provided earnings estimates for SmartFinancial. The lowest sales estimate is $ 36.12 million and the highest is $ 36.90 million. SmartFinancial posted sales of $ 31.48 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The company is expected to announce its next quarterly results on Tuesday, January 18.
On average, analysts expect SmartFinancial to report annual revenue of $ 137.15 million for the current fiscal year, with estimates ranging from $ 136.85 million to $ 137.50 million. dollars. For the next fiscal year, analysts predict the company will post sales of $ 149.91 million, with estimates ranging from $ 147.57 million to $ 151.37 million. Zacks sales averages are an average based on a survey of analysts who follow SmartFinancial.
SmartFinancial (NASDAQ: SMBK) last released its quarterly earnings data on Monday, October 18. The bank announced EPS of $ 0.61 for the quarter, beating the consensus estimate of $ 0.42 by $ 0.19. SmartFinancial recorded a return on equity of 10.01% and a net margin of 25.74%. The company posted revenue of $ 36.69 million for the quarter, compared to analysts’ estimates of $ 32.60 million. During the same period last year, the company posted earnings per share of $ 0.44.
A number of analysts have recently published reports on the company. DA Davidson reaffirmed a “buy” note on SmartFinancial shares in a research report on Thursday, October 28. Zacks Investment Research upgraded SmartFinancial from a “sell” rating to a “custody” rating in a research report released on Saturday, October 23. One investment analyst assigned a conservation rating to the stock, two assigned a buy rating, and another assigned a high buy rating to the stock. Based on data from MarketBeat.com, SmartFinancial currently has a consensus rating of “Buy” and an average target price of $ 29.67.
Several hedge funds and other institutional investors have recently changed their holdings in the company. BlackRock Inc. strengthened its position in shares of SmartFinancial by 4.6% during the third quarter. BlackRock Inc. now owns 1,037,102 shares of the bank valued at $ 26,808,000 after purchasing an additional 45,460 shares during the period. Private Capital Management LLC strengthened its position in SmartFinancial shares by 6.3% in the second quarter. Private Capital Management LLC now owns 516,058 shares of the bank valued at $ 12,391,000 after purchasing an additional 30,767 shares during the period. Dimensional Fund Advisors LP strengthened its position in shares of SmartFinancial by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 417,469 shares of the bank valued at $ 10,792,000 after purchasing an additional 10,406 shares during the period. Geode Capital Management LLC strengthened its position in SmartFinancial shares by 1.9% during the third quarter. Geode Capital Management LLC now owns 241,633 shares of the bank valued at $ 6,246,000 after purchasing an additional 4,436 shares during the period. Finally, Renaissance Technologies LLC strengthened its position in SmartFinancial shares by 0.6% during the third quarter. Renaissance Technologies LLC now owns 241,174 shares of the bank valued at $ 6,234,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds hold 50.96% of the company’s shares.
NASDAQ: SMBK opened at $ 28.27 on Friday. SmartFinancial has a 12-month low of $ 19.32 and a 12-month high of $ 28.63. The company has a market cap of $ 474.99 million, a PE ratio of 11.63 and a beta of 0.72. The company has a leverage ratio of 0.31, a current ratio of 0.98, and a quick ratio of 0.98. The company’s 50-day moving average is $ 26.88, and its two-hundred-day moving average is $ 25.56.
The company also recently announced a quarterly dividend, which was paid on Monday, November 29. Shareholders of record on Friday, November 12 received a dividend of $ 0.06. The ex-dividend date of this dividend was Wednesday, November 10. This represents a dividend of $ 0.24 on an annualized basis and a return of 0.85%. SmartFinancial’s payout ratio is currently 9.88%.
SmartFinancial, Inc is a holding company that provides commercial banking services through SmartBank. The company operates branches and loan production offices in an area spanning eastern Tennessee, southwestern Alabama, the Florida Panhandle, and northern Georgia. It operates through the following portfolio segments: commercial real estate; Consumer real estate; Land construction and planning; Commercial and Industrial; and Consumer and others.
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