SmartFinancial, Inc. (NASDAQ:SMBK) Announces Quarterly Dividend of $0.08

SmartFinancial, Inc. (NASDAQ:SMBK) declared a quarterly dividend on Thursday, April 25th, NASDAQ reports. Investors of record on Friday, May 10th will be given a dividend of 0.08 per share by the bank on Tuesday, May 28th. This represents a $0.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, May 9th.

SmartFinancial has a dividend payout ratio of 14.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect SmartFinancial to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.9%.

SmartFinancial Stock Down 0.9 %

Shares of NASDAQ:SMBK traded down $0.18 on Friday, hitting $20.66. 41,176 shares of the company traded hands, compared to its average volume of 33,517. The stock has a 50 day simple moving average of $20.78 and a 200-day simple moving average of $21.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a market cap of $352.46 million, a PE ratio of 13.24 and a beta of 0.69. SmartFinancial has a 52 week low of $18.86 and a 52 week high of $25.98.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $65.07 million for the quarter, compared to analysts’ expectations of $39.14 million. SmartFinancial had a net margin of 10.65% and a return on equity of 6.94%. During the same period last year, the company posted $0.76 earnings per share. As a group, research analysts expect that SmartFinancial will post 1.89 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SMBK. StockNews.com raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Hovde Group decreased their price target on SmartFinancial from $26.00 to $23.00 and set a “market perform” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods lowered their price target on SmartFinancial from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Wednesday. Piper Sandler upgraded SmartFinancial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $25.00 to $26.00 in a report on Wednesday. Finally, Stephens restated an “overweight” rating and set a $26.00 target price on shares of SmartFinancial in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.

Insider Activity

In related news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total value of $51,782.22. Following the transaction, the executive vice president now directly owns 19,091 shares of the company’s stock, valued at approximately $412,938.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.80% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.