Overview

* SmartFinancial ( SMBK ) Q2 net income rises to $11.7 mln, beating analyst expectations, per LSEG data

* Company achieves 13% annualized quarter-over-quarter growth in net organic loans and leases

* Tangible book value per share grows 13.7% quarter-over-quarter

Outlook

* Company does not provide specific future revenue or EPS guidance in its press release

Result Drivers

* LOAN GROWTH - SmartFinancial ( SMBK ) achieved a 13% annualized growth in net organic loans and leases, contributing to increased earnings

* ASSET QUALITY - Credit quality remained solid with nonperforming assets at 0.19% of total assets

* BOOK VALUE - Tangible book value per share increased by 13.7% quarter-over-quarter, reflecting financial strength

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.69

Q2 Net Beat $11.70 $10.90

Income mln mln (6

Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy."

* Wall Street's median 12-month price target for SmartFinancial Inc ( SMBK ) is $35.75, about 1.5% below its July 18 closing price of $36.27

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)