SmartFinancial, Inc. (NASDAQ:SMBK – Get Free Report) Director Steven Tucker sold 3,500 shares of SmartFinancial stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $49.50, for a total transaction of $173,250.00. Following the transaction, the director directly owned 47,222 shares of the company’s stock, valued at $2,337,489. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
SmartFinancial Price Performance
SmartFinancial stock traded up $0.31 during trading hours on Monday, hitting $49.65. 102,014 shares of the stock were exchanged, compared to its average volume of 96,120. 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 stock has a market capitalization of $848.92 million, a P/E ratio of 23.20 and a beta of 0.71. SmartFinancial, Inc. has a 12 month low of $34.22 and a 12 month high of $54.14. The business’s 50-day moving average is $50.72 and its two-hundred day moving average is $44.92.
Institutional Investors Weigh In On SmartFinancial
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMBK. Equitable Trust Co. lifted its position in SmartFinancial by 2.2% during the 1st quarter. Equitable Trust Co. now owns 11,475 shares of the bank’s stock valued at $448,000 after purchasing an additional 250 shares during the period. First Trust Advisors LP boosted its stake in shares of SmartFinancial by 0.6% in the 1st quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock valued at $1,821,000 after purchasing an additional 280 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of SmartFinancial by 13.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock valued at $106,000 after purchasing an additional 316 shares during the last quarter. Inspire Investing LLC grew its position in shares of SmartFinancial by 3.1% during the 1st quarter. Inspire Investing LLC now owns 13,061 shares of the bank’s stock worth $510,000 after buying an additional 393 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of SmartFinancial by 1,374.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock worth $42,000 after buying an additional 797 shares during the period. Institutional investors and hedge funds own 58.78% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on SMBK shares. Benchmark increased their price target on SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Keefe, Bruyette & Woods lifted their price objective on SmartFinancial from $51.00 to $52.00 and gave the company a “market perform” rating in a research report on Wednesday, October 21st. Stephens lifted their price objective on SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial lowered SmartFinancial from a “strong-buy” rating to an “outperform” rating and reduced 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 four have given a Hold rating to the company. According to data from MarketBeat, SmartFinancial has an average rating of “Hold” and an average target price of $50.42.
View Our Latest Research Report on SmartFinancial
About SmartFinancial
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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