Key Points
- SmartFinancial EVP Rhett Jordan sold 230 shares at an average price of $52.05, generating $11,971.50 and reducing his direct holdings by 2.02% to 11,142 shares.
- Shares opened at $52.07, near their 12-month high of $54.14, with a market capitalization of $890.3 million and a P/E ratio of 24.33.
- Analysts maintain a “Moderate Buy” consensus with a $50.42 average price target, while the company’s quarterly dividend is $0.09 per share, yielding approximately 0.7%.
SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) EVP Rhett Jordan sold 230 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $52.05, for a total value of $11,971.50. Following the transaction, the executive vice president directly owned 11,142 shares of the company's stock, valued at $579,941.10. This represents a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
SmartFinancial Price Performance
Shares of NASDAQ SMBK opened at $52.07 on Tuesday. The firm has a 50-day moving average of $50.60 and a two-hundred day moving average of $44.82. The company has a market capitalization of $890.29 million, a price-to-earnings ratio of 24.33 and a beta of 0.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial, Inc. has a twelve month low of $33.01 and a twelve month high of $54.14.
SmartFinancial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 31st were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. SmartFinancial's dividend payout ratio is currently 10.62%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on SMBK shares. Keefe, Bruyette & Woods boosted their target price on SmartFinancial from $46.00 to $50.00 and gave the stock a "market perform" rating in a research report on Thursday, July 23rd. Stephens boosted their price objective on SmartFinancial from $45.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Benchmark raised their target price on shares of SmartFinancial from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $58.00 price target on shares of SmartFinancial in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.42.
Read Our Latest Analysis on SmartFinancial
Hedge Funds Weigh In On SmartFinancial
Institutional investors have recently bought and sold shares of the stock. North Reef Capital Management LP lifted its holdings in SmartFinancial by 1.6% in the 1st quarter. North Reef Capital Management LP now owns 137,088 shares of the bank's stock worth $5,357,000 after purchasing an additional 2,217 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of SmartFinancial in the second quarter worth $3,746,000. Algebris UK Ltd. acquired a new stake in shares of SmartFinancial in the fourth quarter worth $2,158,000. Bank of America Corp DE increased its position in SmartFinancial by 147.6% during the first quarter. Bank of America Corp DE now owns 47,443 shares of the bank's stock worth $1,854,000 after acquiring an additional 28,280 shares during the period. Finally, First Trust Advisors LP raised its stake in SmartFinancial by 0.6% during the 1st quarter. First Trust Advisors LP now owns 46,590 shares of the bank's stock valued at $1,821,000 after purchasing an additional 280 shares during the last quarter. 58.78% of the stock is currently owned by institutional investors.
About SmartFinancial
(
Get Free Report)
SmartFinancial, Inc is a bank holding company that operates through its wholly owned subsidiary, SmartBank. The company provides community banking services to individuals, businesses and institutions, with offerings that include deposit accounts, residential and commercial real estate lending, consumer loans, business loans and other credit products.
SmartBank also provides treasury management and cash-management services for businesses, along with mortgage banking, wealth management and related financial services.
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