Key Points
- Director Steven Tucker sold 10,625 shares of SmartFinancial on Dec. 10 at an average price of $38.01 for total proceeds of $403,856, reducing his ownership by 17.55% to 49,914 shares (SEC filing).
- SmartFinancial paid a quarterly dividend of $0.08 (annualized $0.32), representing a 0.8% yield and a payout ratio of 11.68% (ex-dividend Nov. 17).
- Analyst consensus is "Hold" with an average price target of $39.10, while the stock trades near its 12‑month high and the company has a market cap of about $676.7M and a P/E of 18.6.
SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) Director Steven Tucker sold 10,625 shares of SmartFinancial stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $38.01, for a total transaction of $403,856.25. Following the transaction, the director owned 49,914 shares in the company, valued at approximately $1,897,231.14. The trade was a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
SmartFinancial Price Performance
Shares of NASDAQ:SMBK opened at $39.74 on Friday. The company's fifty day moving average is $35.67 and its two-hundred day moving average is $35.07. The company has a market cap of $676.71 million, a P/E ratio of 18.57 and a beta of 0.75. SmartFinancial, Inc. has a 12-month low of $26.31 and a 12-month high of $39.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.
SmartFinancial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Monday, November 17th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. SmartFinancial's dividend payout ratio is currently 11.68%.
Institutional Trading of SmartFinancial
Large investors have recently added to or reduced their stakes in the business. Tripletail Wealth Management LLC bought a new position in shares of SmartFinancial during the 3rd quarter valued at $35,000. EverSource Wealth Advisors LLC increased its position in SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank's stock worth $51,000 after buying an additional 472 shares during the last quarter. Tower Research Capital LLC TRC increased its position in SmartFinancial by 173.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank's stock worth $64,000 after buying an additional 1,202 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in SmartFinancial during the first quarter valued at about $61,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of SmartFinancial by 24.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,243 shares of the bank's stock worth $76,000 after buying an additional 438 shares during the last quarter. 58.78% of the stock is owned by institutional investors.
Analyst Ratings Changes
SMBK has been the topic of several research analyst reports. Hovde Group lifted their target price on SmartFinancial from $40.00 to $41.00 and gave the company a "market perform" rating in a research note on Thursday, October 23rd. Zacks Research downgraded shares of SmartFinancial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 8th. Piper Sandler boosted their price target on shares of SmartFinancial from $37.00 to $39.50 and gave the company a "neutral" rating in a report on Monday, October 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of SmartFinancial from $38.00 to $40.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $39.10.
Read Our Latest Stock Report on SmartFinancial
SmartFinancial Company Profile
(
Get Free Report)
SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.
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