# SmartFinancial, Inc. (SMBK)

> Source: Nexqual · https://nexqual.com/SMBK · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, SmartFinancial, Inc. (SMBK), nexqual.com/SMBK" · informational, not investment advice.

**Price:** USD 49.22 (+2.03% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 48.24 · day 47.61–49.88 · 52w 34.23–54.14 · market cap $842M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $214M, net income $57.4M (26.8% margin) (SEC filings).
- Valuation: P/E 14.7x (avg 13.8x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold SMBK (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $74K; 4 not under a Rule 10b5-1 plan ($74K); 0 by opportunistic insiders, 4 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 3 Form 4 filings, $270K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.50 on a 1–5 scale) (6 analysts), mean target USD 52.38 (range 47–58).
- Total return with dividends: 1Y +43.7% vs S&P 500 +14.9%; 5Y +96.0% vs S&P 500 +80.3%.
- Next earnings: 2027-01-19, EPS estimate USD 1, revenue estimate $58.5M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $137M | $165M | $152M | $172M | $200M | $214M |
| Net income | $34.8M | $43.0M | $28.6M | $36.1M | $50.3M | $57.4M |
| EPS (diluted) | $2.22 | $2.55 | $1.69 | $2.14 | $2.98 | — |
| Free cash flow | $43.8M | $44.3M | $33.4M | $46.3M | $59.3M | $65.4M |
| Net margin | 25.3% | 26.0% | 18.8% | 21.1% | 25.1% | 26.8% |
| Revenue growth | +18.1% | +20.3% | -7.8% | +12.5% | +16.9% | — |
| Cash + short-term investments | $1.05B | $266M | $352M | $388M | $464M | — |
| Total debt | $87.6M | $41.9M | $13.1M | $8.1M | $3.0M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 14.7x · P/S 3.9x · P/FCF 12.9x · P/B 1.5x · FCF yield 7.77% · Earnings yield 6.82% · Dividend yield (paid, TTM) 0.67%
P/E at fiscal year-ends: Dec 2025 12.4x, Dec 2024 14.5x, Dec 2023 14.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold SMBK. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $15.0M | Added +42.5% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-14 | Jordan Rhett D. | EVP & CHIEF CREDIT OFFICER | 230 | $12K | 2% | No | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-08-04 | Jordan Rhett D. | EVP & CHIEF CREDIT OFFICER | 430 | $23K | 3.6% | No | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-06-12 | Jordan Rhett D. | EVP & CHIEF CREDIT OFFICER | 400 | $18K | 3.3% | No | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-04-24 | Jordan Rhett D. | EVP & CHIEF CREDIT OFFICER | 500 | $21K | 3.9% | No | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
3 purchases, $270K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-10 | Barrett Victor Lynn | Director | 3,000 | $131K | 43.78 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-04 | Ackermann Cathy G | Director | 3,000 | $126K | 42.12 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-04 | Shomaker Kelli D | Director | 290 | $12K | 41.3 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Hold (mean 2.50 on a 1–5 scale), 6 analysts; mean target USD 52.38 (low 47, high 58).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Keefe, Bruyette & Woods | Target raised | Market Perform | $51 → $52 |
| 2026-10-21 | StoneX | Target lowered | Buy | $60 → $58 |
| 2026-10-21 | Raymond James | Downgrade | Strong Buy → Outperform | $58 → $56 |
| 2026-08-18 | Benchmark | Target raised | Buy | $56 → $60 |
| 2026-07-23 | Stephens & Co. | Target raised | Equal-Weight | $45 → $47 |
| 2026-07-23 | Keefe, Bruyette & Woods | Target raised | Market Perform | $46 → $50 |
| 2026-07-22 | Benchmark | Target raised | Buy | $54 → $56 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +43.7% | +96.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +43.9% | +14.4% |
| Volatility (annualized) | 23.8% | 27.3% |
| Max drawdown | -13.3% (Feb 2026→Mar 2026) | -35.5% (Nov 2022→Apr 2024) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 3.95 -2.47% · FITB (Fifth Third Bancorp) USD 53.23 +0.80% · TFC (Truist Financial Corporation) USD 48.42 +1.45% · DB (Deutsche Bank AG) USD 31.48 -2.39% · NWG (NatWest Group plc) USD 16.99 -2.30% · NU (Nu Holdings Ltd.) USD 14.73 -2.13%

## More
Full page: https://nexqual.com/SMBK · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-10-19)

- "(6) our ability to anticipate interest rate changes and manage interest rate risk (including the impact of higher interest rates on macroeconomic conditions, competition, and the cost of doing business and the impact of interest rate fluctuations on our financial projections, models and guidance);"
- "(13) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance;"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.00 | $1.01 | -0.7% | $58.5M | 5 |
| Next quarter (ends 2027-03-31) | $0.98 | $0.98 | +0.0% | $59.0M | 6 |
| Current fiscal year (ends 2026-12-31) | $3.80 | $3.74 | +1.8% | $226.5M | 6 |
| Next fiscal year (ends 2027-12-31) | $4.16 | $4.19 | -0.8% | $246.6M | 6 |