SmartFinancial, Inc. (NASDAQ:SMBK – Get Free Report) Director Steven Tucker sold 3,550 shares of SmartFinancial stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $49.62, for a total value of $176,151.00. Following the completion of the transaction, the director owned 43,672 shares of the company’s stock, valued at approximately $2,167,004.64. This represents a 7.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
SmartFinancial Trading Down 3.2%
Shares of NASDAQ SMBK opened at $47.95 on Friday. The business’s 50 day moving average is $50.32 and its two-hundred day moving average is $45.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. SmartFinancial, Inc. has a 1-year low of $34.50 and a 1-year high of $54.14. The stock has a market capitalization of $819.93 million, a P/E ratio of 22.41 and a beta of 0.74.
SmartFinancial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be issued a $0.09 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. SmartFinancial’s payout ratio is 9.78%.
Hedge Funds Weigh In On SmartFinancial
Several hedge funds have recently added to or reduced their stakes in the company. Rosenthal Henry Capital Advisors Inc. bought a new position in shares of SmartFinancial during the third quarter valued at approximately $1,053,000. Sage Investment Counsel LLC purchased a new stake in shares of SmartFinancial in the third quarter worth approximately $206,000. USA Financial Formulas bought a new stake in shares of SmartFinancial during the 3rd quarter worth approximately $48,000. Fortitude Family Office LLC lifted its stake in shares of SmartFinancial by 3,096.3% during the 3rd quarter. Fortitude Family Office LLC now owns 863 shares of the bank’s stock worth $43,000 after acquiring an additional 836 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake 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 acquiring an additional 797 shares during the last quarter. 58.78% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
SMBK has been the topic of several analyst reports. Raymond James Financial downgraded SmartFinancial from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $58.00 to $56.00 in a research report on Wednesday, October 21st. Stephens raised their price target on SmartFinancial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of SmartFinancial from $51.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 21st. Finally, Benchmark lifted their price objective on shares of SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, SmartFinancial presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.
Check Out Our Latest Stock Analysis on SmartFinancial
SmartFinancial Company Profile
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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