Key Points
- Director Steven Tucker sold 3,500 SmartFinancial shares at an average price of $49.50, generating $173,250. He retained 47,222 shares after reducing his position by 6.9%.
- SmartFinancial shares opened at $49.65, with a market capitalization of approximately $848.9 million and a 52-week range of $34.22 to $54.14. Institutional investors own 58.78% of the company.
- Analysts maintain a “Moderate Buy” consensus, with three Buy and three Hold ratings and an average price target of $52.60.
SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) Director Steven Tucker sold 3,500 shares of the business's stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $49.50, for a total value of $173,250.00. Following the completion of the sale, the director owned 47,222 shares of the company's stock, valued at $2,337,489. The trade was a 6.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
SmartFinancial Stock Up 0.6%
Shares of NASDAQ:SMBK opened at $49.65 on Tuesday. The business's 50 day moving average is $50.72 and its 200 day moving average is $44.92. The stock has a market cap of $848.92 million, a P/E ratio of 23.20 and a beta of 0.71. SmartFinancial, Inc. has a 52-week low of $34.22 and a 52-week high of $54.14. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.
Hedge Funds Weigh In On SmartFinancial
Several institutional investors have recently bought and sold shares of SMBK. Sage Investment Counsel LLC purchased a new stake in SmartFinancial during the third quarter worth $206,000. USA Financial Formulas bought a new stake in SmartFinancial during the 3rd quarter valued at $48,000. Fortitude Family Office LLC boosted its position in SmartFinancial by 3,096.3% during the 3rd quarter. Fortitude Family Office LLC now owns 863 shares of the bank's stock valued at $43,000 after acquiring an additional 836 shares in the last quarter. Farther Finance Advisors LLC boosted its position in SmartFinancial by 1,374.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 855 shares of the bank's stock valued at $42,000 after acquiring an additional 797 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of SmartFinancial in the 2nd quarter valued at $371,000. 58.78% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SMBK has been the topic of a number of recent research reports. Stephens increased their price target on SmartFinancial from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods raised their price target on SmartFinancial from $51.00 to $52.00 and gave the company a "market perform" rating in a research note on Wednesday, October 21st. Benchmark lifted their price objective on SmartFinancial from $56.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Finally, Raymond James Financial lowered shares of SmartFinancial from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $58.00 to $56.00 in a research note on Wednesday, October 21st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, SmartFinancial currently has an average rating of "Moderate Buy" and a consensus target price of $52.60.
Check Out Our Latest Stock Report on SmartFinancial
SmartFinancial Company Profile
(
Get Free Report)
SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.
SmartBank's products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.
Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.
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