SmartFinancial, Inc. (NASDAQ:SMBK) announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.03, Bloomberg Earnings reports. SmartFinancial had a net margin of 13.49% and a return on equity of 5.72%. The company had revenue of $11.50 million during the quarter, compared to analyst estimates of $11.10 million.
Shares of SmartFinancial (NASDAQ SMBK) traded up 2.97% on Friday, reaching $24.58. 5,031 shares of the company were exchanged. SmartFinancial has a 12-month low of $15.00 and a 12-month high of $26.26. The firm has a market capitalization of $202.00 million, a PE ratio of 29.83 and a beta of 0.30. The company’s 50 day moving average is $24.20 and its 200 day moving average is $22.43.
In related news, Chairman Wesley Miller Welborn acquired 13,314 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $24.47 per share, for a total transaction of $325,793.58. Following the completion of the acquisition, the chairman now owns 39,937 shares of the company’s stock, valued at approximately $977,258.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.87% of the company’s stock.
Separately, Zacks Investment Research lowered shares of SmartFinancial from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th.
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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 loans.
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