SmartFinancial resumed with a Market Perform at Raymond James

Raymond James resumed coverage of SmartFinancial with a Market Perform rating and no price target. SmartFinancial is a well-run and growing southeast bank that is well-positioned to benefit from population inflows and M&A disruption, and while the firm expects recent commercial hires will continue to add to franchise value over time, the difficult interest rate environment tempers its earnings outlook, the analyst tells investors in a research note.