Key Points
- SmartFinancial Director Steven Tucker sold 3,550 shares for $176,151 at an average price of $49.62, reducing his direct stake by 7.52% to 43,672 shares.
- SmartFinancial declared a quarterly dividend of $0.09 per share, payable December 1 to shareholders of record November 16—an annualized yield of about 0.7%.
- Analysts’ consensus rating is “Moderate Buy,” with a consensus price target of $52.60; three analysts rate the stock Buy and three rate it Hold.
SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) Director Steven Tucker sold 3,550 shares of the firm's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $49.62, for a total transaction of $176,151.00. Following the sale, the director directly owned 43,672 shares in the company, valued at $2,167,004.64. This represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
SmartFinancial Stock Performance
Shares of NASDAQ SMBK opened at $49.48 on Thursday. The company has a 50-day simple moving average of $50.38 and a 200-day simple moving average of $45.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $846.01 million, a PE ratio of 23.12 and a beta of 0.74. SmartFinancial, Inc. has a 12 month low of $34.50 and a 12 month high of $54.14.
SmartFinancial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a dividend of $0.09 per share. The ex-dividend date is Monday, November 16th. This represents a $0.36 dividend on an annualized basis and a yield of 0.7%. SmartFinancial's dividend payout ratio (DPR) is 9.78%.
Institutional Investors Weigh In On SmartFinancial
A number of institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in SmartFinancial by 1,374.1% during the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank's stock worth $42,000 after purchasing an additional 797 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of SmartFinancial by 3,096.3% in the 3rd quarter. Fortitude Family Office LLC now owns 863 shares of the bank's stock valued at $43,000 after purchasing an additional 836 shares during the last quarter. USA Financial Formulas acquired a new position in shares of SmartFinancial in the 3rd quarter valued at $48,000. Public Employees Retirement System of Ohio acquired a new position in shares of SmartFinancial in the 2nd quarter valued at $47,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of SmartFinancial by 13.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank's stock valued at $106,000 after buying an additional 316 shares during the period. 58.78% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
SMBK has been the subject of several recent analyst reports. Raymond James Financial cut shares of SmartFinancial from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $58.00 to $56.00 in a research note on Wednesday, October 21st. Benchmark raised their price objective on SmartFinancial from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Keefe, Bruyette & Woods upped their target price on SmartFinancial from $51.00 to $52.00 and gave the company a "market perform" rating in a research note on Wednesday, October 21st. Finally, Stephens increased their target price on SmartFinancial from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.60.
View Our Latest Stock Analysis on SMBK
About SmartFinancial
(
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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