We’ve recently updated our valuation analysis.

SmartFinancial Valuation

Is SMBK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

[object Object] Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SMBK?

Other financial metrics that can be useful for relative valuation.

SMBK key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio1.1x

Price to Earnings Ratio vs Peers

How does SMBK's PE Ratio compare to its peers?

The above table shows the PE ratio for SMBK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.4x
FSBC Five Star Bancorp
11.4x10.7%US$489.4m
MPB Mid Penn Bancorp
13.2x18.5%US$523.3m
FMNB Farmers National Banc
9.9x17.0%US$524.5m
FFIC Flushing Financial
7.2x-16.7%US$614.0m
SMBK SmartFinancial
13.8x12.0%US$506.3m

Price-To-Earnings vs Peers: SMBK is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the peer average (10.4x).


Price to Earnings Ratio vs Industry

How does SMBK's PE Ratio compare vs other companies in the US Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.0%
n/an/an/a

Price-To-Earnings vs Industry: SMBK is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the US Banks industry average (10x)


Price to Earnings Ratio vs Fair Ratio

What is SMBK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SMBK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.8x
Fair PE Ratio11.2x

Price-To-Earnings vs Fair Ratio: SMBK is expensive based on its Price-To-Earnings Ratio (13.8x) compared to the estimated Fair Price-To-Earnings Ratio (11.2x).


Share Price vs Fair Value

What is the Fair Price of SMBK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SMBK ($29.98) is trading below our estimate of fair value ($58.19)

Significantly Below Fair Value: SMBK is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SMBK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$29.98
US$33.25
+10.9%
4.6%US$34.50US$30.00n/a6
Nov ’23US$28.76
US$33.25
+15.6%
4.6%US$34.50US$30.00n/a6
Oct ’23US$24.71
US$31.92
+29.2%
5.1%US$34.00US$30.00n/a6
Sep ’23US$25.38
US$31.75
+25.1%
4.6%US$33.50US$30.00n/a6
Aug ’23US$26.06
US$31.75
+21.8%
4.6%US$33.50US$30.00n/a6
Jul ’23US$24.25
US$31.43
+29.6%
5.0%US$33.00US$29.00n/a7
Jun ’23US$25.65
US$32.21
+25.6%
5.4%US$35.00US$29.50n/a7
May ’23US$24.52
US$32.50
+32.5%
4.4%US$35.00US$30.00n/a7
Apr ’23US$25.63
US$32.64
+27.4%
5.3%US$35.00US$30.00n/a7
Mar ’23US$25.40
US$32.50
+28.0%
4.8%US$35.00US$30.00n/a7
Feb ’23US$26.73
US$32.50
+21.6%
4.8%US$35.00US$30.00n/a7
Jan ’23US$27.36
US$31.50
+15.1%
7.8%US$36.00US$28.00n/a7
Dec ’22US$25.55
US$30.93
+21.1%
5.5%US$34.00US$28.00US$29.877
Nov ’22US$26.33
US$30.93
+17.5%
5.5%US$34.00US$28.00US$28.767
Oct ’22US$26.11
US$29.79
+14.1%
3.6%US$31.00US$28.00US$24.717
Sep ’22US$24.99
US$29.64
+18.6%
3.2%US$31.00US$28.00US$25.387
Aug ’22US$24.37
US$29.64
+21.6%
3.2%US$31.00US$28.00US$26.067
Jul ’22US$24.47
US$27.50
+12.4%
2.9%US$28.50US$26.00US$24.257
Jun ’22US$24.48
US$27.50
+12.3%
2.9%US$28.50US$26.00US$25.657
May ’22US$23.69
US$26.93
+13.7%
2.9%US$28.00US$26.00US$24.527
Apr ’22US$21.84
US$23.79
+8.9%
5.7%US$25.50US$22.00US$25.637
Mar ’22US$21.43
US$23.50
+9.7%
5.0%US$25.00US$22.00US$25.407
Feb ’22US$20.14
US$23.50
+16.7%
5.0%US$25.00US$22.00US$26.737
Jan ’22US$18.14
US$20.21
+11.4%
7.9%US$22.00US$18.00US$27.367
Dec ’21US$17.88
US$18.71
+4.7%
6.0%US$21.00US$17.50US$25.557

Analyst Forecast: Target price is less than 20% higher than the current share price.


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