Hovde Group Initiates Coverage on SmartFinancial Inc to Outperform

Hovde Group Initiates Coverage on SmartFinancial Inc(NASDAQ:SMBK). The shares have been rated Outperform. The rating by Hovde Group was issued on Aug 29, 2016.

Several Insider Transactions has been reported to the SEC. On Apr 5, 2016, Monique Berke (director) purchased 1,000 shares at $18.47 per share price.Also, On Oct 26, 2015, Doyce G Md Payne (director) purchased 2,000 shares at $15.00 per share price.On Oct 16, 2015, Wesley Miller Welborn (Chairman) purchased 26,668 shares at $15.00 per share price, according to the Form-4 filing with the securities and exchange commission.

SmartFinancial Inc. formerly Cornerstone Bancshares Inc. is a bank holding company. The Company operates through subsidiaries including SmartBank and Cornerstone Community Bank. SmartBank operates in approximately seven branch locations across East Tennessee and the Florida Panhandle. Cornerstone Community Bank operates in approximately five branch locations serving clients throughout the Chattanooga metropolitan statistical area (MSA). The Company through its subsidiaries offers personal banking business banking and e-banking services. Its personal banking services include personal checking personal savings personal mortgages personal loans and personal banking additional services. Its business banking services include business checking business loans small business administration (SBA) loans and business banking additional services. Its e-banking services include mobile banking online bill pay SmartPay and e-statements.

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