Brokerages Set SmartFinancial, Inc. (NASDAQ:SMBK) Price Target at $39.10

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have earned an average recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $39.10.

SMBK has been the subject of several analyst reports. Hovde Group boosted their price objective on SmartFinancial from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Piper Sandler boosted their price target on SmartFinancial from $37.00 to $39.50 and gave the company a “neutral” rating in a report on Monday, October 27th. Zacks Research lowered SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of SmartFinancial from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Tuesday, November 4th.

SmartFinancial Stock Down 0.1%

NASDAQ:SMBK opened at $39.44 on Friday. 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’s fifty day moving average price is $37.30 and its 200-day moving average price is $36.16. SmartFinancial has a 1-year low of $26.31 and a 1-year high of $40.08. The firm has a market capitalization of $671.50 million, a P/E ratio of 18.43 and a beta of 0.75.

SmartFinancial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th were given a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. SmartFinancial’s dividend payout ratio is 11.68%.

Insider Activity

In other news, Director Steven B. Tucker sold 10,625 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $38.01, for a total transaction of $403,856.25. Following the sale, the director directly owned 49,914 shares in the company, valued at $1,897,231.14. This trade represents a 17.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SmartFinancial

Hedge funds have recently bought and sold shares of the business. Tripletail Wealth Management LLC purchased a new stake in shares of SmartFinancial in the third quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its stake in SmartFinancial by 46.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after acquiring an additional 472 shares during the period. Tower Research Capital LLC TRC increased its holdings in SmartFinancial by 173.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock worth $64,000 after acquiring an additional 1,202 shares in the last quarter. PNC Financial Services Group Inc. raised its position in SmartFinancial by 24.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,243 shares of the bank’s stock worth $76,000 after acquiring an additional 438 shares during the period. Finally, CWM LLC lifted its holdings in SmartFinancial by 27.7% during the third quarter. CWM LLC now owns 3,160 shares of the bank’s stock valued at $113,000 after purchasing an additional 685 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.