SmartFinancial (NASDAQ:SMBK) Sees Unusually-High Trading Volume – What’s Next?

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) saw unusually-high trading volume on Monday . Approximately 89,018 shares changed hands during mid-day trading, an increase of 66% from the previous session’s volume of 53,577 shares.The stock last traded at $32.64 and had previously closed at $31.47.

Analysts Set New Price Targets

SMBK has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of SmartFinancial from $37.00 to $35.00 and set a “market perform” rating on the stock in a research note on Thursday, April 24th. Stephens reaffirmed an “equal weight” rating and set a $31.00 price objective on shares of SmartFinancial in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.70.

SmartFinancial Trading Up 0.5%

The company has a market capitalization of $556.68 million, a price-to-earnings ratio of 15.29 and a beta of 0.70. 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 business’s 50-day simple moving average is $31.20 and its 200-day simple moving average is $31.97.

SmartFinancial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Friday, May 2nd were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, May 2nd. SmartFinancial’s dividend payout ratio (DPR) is 14.16%.

Hedge Funds Weigh In On SmartFinancial

A number of hedge funds and other institutional investors have recently bought and sold shares of SMBK. Tower Research Capital LLC TRC raised its position in shares of SmartFinancial by 269.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank’s stock valued at $48,000 after acquiring an additional 1,122 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of SmartFinancial during the first quarter worth $61,000. GAMMA Investing LLC increased its holdings in SmartFinancial by 19,400.0% in the first quarter. GAMMA Investing LLC now owns 2,145 shares of the bank’s stock valued at $69,000 after purchasing an additional 2,134 shares during the last quarter. CWM LLC lifted its stake in SmartFinancial by 282.9% in the first quarter. CWM LLC now owns 2,489 shares of the bank’s stock valued at $77,000 after buying an additional 1,839 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in SmartFinancial in the fourth quarter valued at about $104,000. 58.78% of the stock is owned by institutional investors.

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.