Key Points
- SmartFinancial EVP Rhett Jordan sold 430 shares at an average price of $52.75, generating $22,682.50 and reducing his direct ownership by 3.64% to 11,372 shares.
- SmartFinancial shares opened at $53.18, near their 52-week high of $54.14. The company declared a quarterly dividend of $0.09 per share, equivalent to a 0.7% yield.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $49.75, while institutional investors and hedge funds own 58.78% of the stock.
SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) EVP Rhett Jordan sold 430 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $52.75, for a total transaction of $22,682.50. Following the completion of the sale, the executive vice president directly owned 11,372 shares in the company, valued at $599,873. This trade represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
SmartFinancial Stock Performance
Shares of SMBK stock opened at $53.18 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $909.25 million, a P/E ratio of 24.85 and a beta of 0.70. The firm's 50 day moving average price is $46.52 and its 200-day moving average price is $42.64. SmartFinancial, Inc. has a one year low of $32.63 and a one year high of $54.14.
SmartFinancial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, July 31st. SmartFinancial's dividend payout ratio is 10.62%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on SMBK shares. Benchmark lifted their price objective on SmartFinancial from $54.00 to $56.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Stephens increased their target price on SmartFinancial from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods raised their target price on SmartFinancial from $46.00 to $50.00 and gave the company a "market perform" rating in a report on Thursday, July 23rd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $58.00 target price on shares of SmartFinancial in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, SmartFinancial presently has an average rating of "Moderate Buy" and a consensus target price of $49.75.
View Our Latest Stock Analysis on SmartFinancial
Institutional Investors Weigh In On SmartFinancial
A number of hedge funds have recently added to or reduced their stakes in the business. Equitable Trust Co. boosted its position in SmartFinancial by 2.2% in the 1st quarter. Equitable Trust Co. now owns 11,475 shares of the bank's stock valued at $448,000 after buying an additional 250 shares during the period. First Trust Advisors LP increased its position in shares of SmartFinancial by 0.6% during the first quarter. First Trust Advisors LP now owns 46,590 shares of the bank's stock worth $1,821,000 after acquiring an additional 280 shares during the period. PNC Financial Services Group Inc. increased its position in shares of SmartFinancial by 13.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank's stock worth $106,000 after acquiring an additional 316 shares during the period. Harbor Capital Advisors Inc. grew its stake in SmartFinancial by 5.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,860 shares of the bank's stock worth $217,000 after purchasing an additional 321 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in SmartFinancial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank's stock worth $295,000 after purchasing an additional 390 shares during the period. 58.78% of the stock is currently owned by institutional investors and hedge funds.
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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