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SmartFinancial (SMBK)
NYSE:SMBK
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Earnings Data
Report Date
Jan 21, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.51Last Year’s EPS
0.41Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2018
|% Change Since: 4.99%
|Next Earnings Date:Jul 24, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment with strong net income and earnings per share, tangible book value growth, significant loan and deposit achievements, and net interest margin expansion. Although there were slight challenges with increased charge-offs and higher noninterest expenses, the overall performance and strategic moves suggest a solid position moving forward.Company Guidance
During the third quarter 2024 earnings call for SmartFinancial (SMBK), the executives provided guidance highlighting a range of metrics. The company reported a net income of $9.1 million or $0.54 per diluted share. Tangible book value per share increased to $22.67, including the impacts of Accumulated Other Comprehensive Income (AOCI), marking a 19% annualized quarter-over-quarter increase. The loan portfolio grew by 16% on an annualized basis, while deposits remained flat at $4.3 billion, with a core growth of over 5% after adjusting for strategic repositioning. The net interest margin expanded by 14 basis points to 3.11%, with an expected range of 3.10% to 3.15% moving into the fourth quarter. Asset quality remained strong, with nonperforming assets at 26 basis points. Total revenue was $44.1 million, and noninterest income was robust, particularly from swap transactions and investment services. Operating expenses were slightly up at $30.8 million, while the company anticipates a future effective tax rate of approximately 20% due to a new REIT subsidiary. Overall, the executives expressed optimism about continued growth in loan and deposit metrics, maintaining expense control, and achieving operational leverage.Record Net Income and Earnings Per Share
SmartFinancial posted net income GAAP and operating of $9.1 million for the quarter, or $0.54 per diluted share, indicating a strong earnings trajectory.
Tangible Book Value Increase
The tangible book value per share increased to $22.67, including AOCI, and $23.69 excluding it, showing a 19% annualized quarter-over-quarter increase with AOCI and 9% excluding it.
Loan Growth Achievement
Loan growth was over 16% annualized this quarter, coming off an 11% annualized prior quarter, with continued growth in new relationships and increased funding online.
Deposit Repositioning and Core Growth
SmartFinancial exited a costly public fund relationship and used a wholesale funding ladder to fill the gap. Core deposit growth was over 5%, with overall costs ticking down to 2.54%.
Net Interest Margin Expansion
Net interest margin expanded quarter-over-quarter, increasing 14 basis points to 3.11%, contributing to overall profitability.
Noninterest Income Performance
Noninterest income reached $9.1 million, with significant contributions from customer swap transactions and investment services.
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SMBK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SMBK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $30.08 | $30.98 | +2.99% |
| Jul 22, 2024 | $26.94 | $27.86 | +3.41% |
| Apr 22, 2024 | $19.49 | $20.03 | +2.77% |
| Jan 22, 2024 | $23.51 | $23.20 | -1.32% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does SmartFinancial (SMBK) report earnings?
SmartFinancial (SMBK) is schdueled to report earning on Jan 21, 2025, TBA Not Confirmed.
What is SmartFinancial (SMBK) earnings time?
SmartFinancial (SMBK) earnings time is at Jan 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SMBK EPS forecast?
SMBK EPS forecast for the fiscal quarter 2024 (Q4) is 0.51.
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