Key Points
- EVP Rhett Jordan sold 500 shares of SmartFinancial at an average price of $41.85 for $20,925, leaving him with 12,202 shares—a reported 3.94% reduction in his position.
- The board authorized a $10.0 million share buyback plan (up to about 1.5% of shares) and the company recently paid a quarterly dividend of $0.08 per share (annualized $0.32, ~0.8% yield).
- Analysts assign SmartFinancial a consensus rating of Moderate Buy with an average price target of $45.88; the stock has a market cap near $718 million, a PE of ~19.6, and a 12‑month range of $29.63–$43.90.
SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) EVP Rhett Jordan sold 500 shares of SmartFinancial stock in a transaction on Friday, April 24th. The shares were sold at an average price of $41.85, for a total value of $20,925.00. Following the completion of the sale, the executive vice president directly owned 12,202 shares of the company's stock, valued at approximately $510,653.70. This represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
SmartFinancial Price Performance
SMBK stock opened at $41.99 on Friday. The stock has a 50-day moving average price of $40.01 and a two-hundred day moving average price of $38.36. SmartFinancial, Inc. has a 12-month low of $29.63 and a 12-month high of $43.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a market cap of $718.01 million, a PE ratio of 19.62 and a beta of 0.76.
SmartFinancial announced that its board has initiated a share buyback plan on Friday, January 30th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the bank to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.
SmartFinancial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, February 13th. SmartFinancial's payout ratio is 10.26%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its stake in shares of SmartFinancial by 5.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,860 shares of the bank's stock worth $217,000 after acquiring an additional 321 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of SmartFinancial by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank's stock worth $295,000 after acquiring an additional 390 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of SmartFinancial by 3.1% in the first quarter. Inspire Investing LLC now owns 13,061 shares of the bank's stock worth $510,000 after acquiring an additional 393 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 472 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its stake in shares of SmartFinancial by 5.2% in the second quarter. Engineers Gate Manager LP now owns 11,849 shares of the bank's stock worth $400,000 after acquiring an additional 585 shares in the last quarter. Institutional investors and hedge funds own 58.78% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on SMBK. Hovde Group raised SmartFinancial from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a research report on Thursday, January 22nd. Raymond James Financial reissued a "strong-buy" rating and set a $50.00 price target on shares of SmartFinancial in a research report on Monday. Zacks Research downgraded SmartFinancial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 5th. Finally, Keefe, Bruyette & Woods boosted their price target on SmartFinancial from $42.00 to $46.00 and gave the company a "market perform" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, SmartFinancial has a consensus rating of "Moderate Buy" and an average price target of $45.88.
Get Our Latest Research Report on SMBK
SmartFinancial Company Profile
(
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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