SmartFinancial stock hits 52-week high at $35.25

SmartFinancial Inc . (NYSE:SMBK) stock has reached a new 52-week high, trading at $35.25. This milestone reflects a significant uptrend for the regional bank holding company, which has seen its shares soar over the past year. Investors have been bullish on SmartFinancial's performance, as evidenced by the impressive 1-year change data, with the stock price climbing 64.34%. This surge in value underscores the company's robust financial health and the positive sentiment surrounding its growth prospects in the competitive banking sector.

In other recent news, SmartFinancial reported strong third-quarter results, with a net income of $9.1 million, or $0.54 per diluted share. The company also experienced a significant increase in tangible book value to $22.67 per share and a robust loan growth of over 16% annualized. The net interest margin improved to 3.11%, with the management expecting continued expansion.

These recent developments also include a steady deposit of $4.3 billion, with core growth over $50 million. The operating noninterest income reached $9.1 million, with total revenue at $44.1 million. As part of its future projections, SmartFinancial aims for a $50 million operating revenue target by the third quarter of 2025.

Analysts from the firm expect a net interest margin of 3.10% to 3.15% for the fourth quarter and anticipate margin expansion throughout 2025. The company's management is also optimistic about its pipeline and market conditions, maintaining operational leverage and a strong company culture. Despite expectations for slight reductions in loan rates, the company is focused on strategic core deposit growth and managing rates in response to market conditions.

InvestingPro Insights

SmartFinancial Inc.'s (SMBK) recent achievement of a new 52-week high is further supported by InvestingPro data, which reveals a strong financial performance and positive market sentiment. The company's stock has demonstrated impressive returns, with a 57.2% price total return over the past year and a substantial 51.01% return over the last six months. This aligns with the article's mention of the stock's 64.34% climb over the past year.

InvestingPro Tips highlight that SMBK has raised its dividend for 5 consecutive years, indicating a commitment to shareholder value. Additionally, the company is trading near its 52-week high, which corroborates the article's main focus. The stock's P/E ratio of 16.98 suggests that investors are willing to pay a premium for SMBK's earnings, potentially due to its strong performance and growth prospects.

For investors seeking a deeper understanding of SmartFinancial's potential, InvestingPro offers 10 additional tips, providing a comprehensive analysis of the company's financial health and market position.

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