SmartFinancial Inc
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Financials : Banks | Small Cap Value
Company profile

SmartFinancial, Inc., formerly Cornerstone Bancshares, Inc., is a bank holding company. The Company operates through its SmartBank subsidiary (The Bank). The principal business of the Bank consists of attracting deposits from the public and investing those funds, together with funds generated from operations and from principal and interest payments on loans. It offers commercial real estate-mortgage, consumer real estate-mortgage, construction and land development, commercial and industrial, and consumer and other loans. The Bank's investment portfolio consists of Federal agency bonds, mortgage-backed securities, and state and municipal securities. The Bank provides a range of deposit services to businesses and individuals, including non-interest bearing checking accounts, interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts (IRAs) and certificates of deposit (CDs). SmartBank operates in approximately 28 branches.

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Today's volume of 210 shares is on pace to be much lighter than SMBK's 10-day average volume of 28,512 shares.


Macy's reports better-than-expected quarter with digital sales headed to $10 billion

7:25 am ET February 23, 2021 (MarketWatch)

Macy's Inc. (M) stock rose 1.9% in Tuesday premarket trading after the department store retailer beat fourth quarter expectations. Net income totaled $160 million, or 50 cents per share, down from $340 million, or $1.09 per share, last year. Adjusted EPS of 80 cents per share blew past the FactSet consensus for 11 cents. Sales of $6.78 billion were down from $8.34 billion last year but also beat the FactSet consensus of $6.48 billion. Comparable sales fell 17% on an owned basis, and were down 17.1% on an owned-plus-licensed basis. The FactSet consensus was for a 23% decline. Digital sales were up 21%, with digital penetration reaching 44% of net sales. "Performance was driven by the home, beauty, jewelry and watch categories, growth in digital sales and by acquiring new customers," said Macy's Chief Executive Jeff Gennette in a statement. "We anticipate annual digital sales to reach $10 billion within the next three years, and that digital will become an even more profitable contributor to our business." Macy's forecasts fiscal 2021 sales of $19.75 billion to $20.75 billion and adjusted EPS of 40 cents to 90 cents. The FactSet consensus is for sales of $20.06 billion and EPS of 75 cents. Macy's stock has rallied nearly 47% over the last three months, though it has slumped nearly 6% for the past year. The benchmark S&P 500 index is up 16.1% for the last 12 months.

-Tonya Garcia; 415-439-6400;


(END) Dow Jones Newswires

February 23, 2021 07:25 ET (12:25 GMT)

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