Key Points
- Director Kelli Shomaker bought 255 shares on Jan. 27 at an average price of $39.38 for $10,041.90, raising her stake to 1,022 shares (a 33.25% increase); the purchase was disclosed on an SEC Form 4.
- SMBK is trading around $39 with a market cap of about $664M and a P/E of 18.23, and analysts hold a consensus "Moderate Buy" with a $40.50 target (Hovde recently upgraded to "outperform" with a $48 target).
SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) Director Kelli Shomaker purchased 255 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was acquired at an average cost of $39.38 per share, for a total transaction of $10,041.90. Following the completion of the acquisition, the director owned 1,022 shares in the company, valued at $40,246.36. This represents a 33.25% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
SmartFinancial Trading Down 1.1%
Shares of SMBK opened at $39.02 on Thursday. The firm has a market cap of $664.35 million, a P/E ratio of 18.23 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. SmartFinancial, Inc. has a 1 year low of $26.31 and a 1 year high of $42.96. The company has a 50 day simple moving average of $37.96 and a two-hundred day simple moving average of $36.40.
SmartFinancial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th were paid a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 annualized dividend and a yield of 0.8%. SmartFinancial's payout ratio is presently 10.74%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Tripletail Wealth Management LLC bought a new stake in shares of SmartFinancial in the 3rd quarter worth about $35,000. EverSource Wealth Advisors LLC lifted its stake in SmartFinancial by 46.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank's stock worth $51,000 after purchasing an additional 472 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of SmartFinancial by 173.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank's stock valued at $64,000 after buying an additional 1,202 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of SmartFinancial by 24.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,243 shares of the bank's stock valued at $76,000 after buying an additional 438 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of SmartFinancial by 209.1% during the fourth quarter. State of Alaska Department of Revenue now owns 2,105 shares of the bank's stock valued at $77,000 after buying an additional 1,424 shares during the last quarter. Institutional investors own 58.78% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on SMBK shares. Piper Sandler boosted their target price on SmartFinancial from $37.00 to $39.50 and gave the stock a "neutral" rating in a research report on Monday, October 27th. Zacks Research lowered shares of SmartFinancial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price target on shares of SmartFinancial from $38.00 to $40.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 4th. Finally, Hovde Group upgraded shares of SmartFinancial from a "market perform" rating to an "outperform" rating and set a $48.00 price objective for the company in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.50.
Get Our Latest Report on SmartFinancial
About SmartFinancial
(
Get Free Report)
SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial's network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers' evolving needs.
Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.
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