SmartFinancial, Inc. (NASDAQ:SMBK – Get Free Report) shares hit a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as $49.34 and last traded at $49.2450, with a volume of 26999 shares. The stock had previously closed at $47.67.
The newly announced dividend which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be given a $0.09 dividend. The ex-dividend date is Friday, July 31st. This represents a $0.36 annualized dividend and a yield of 0.7%. SmartFinancial’s payout ratio is presently 11.54%.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. Benchmark started coverage on SmartFinancial in a research note on Wednesday, June 24th. They issued a “buy” rating and a $54.00 price objective on the stock. Keefe, Bruyette & Woods upped their price target on shares of SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 21st. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $50.00 price objective on shares of SmartFinancial in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, SmartFinancial presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.
SmartFinancial Price Performance
The company has a market capitalization of $832.07 million, a price-to-earnings ratio of 22.75 and a beta of 0.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $44.26 and a 200 day moving average price of $41.57.
Insider Transactions at SmartFinancial
In other news, Director Cathy G. Ackermann acquired 3,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was purchased at an average cost of $42.12 per share, with a total value of $126,360.00. Following the acquisition, the director owned 19,831 shares of the company’s stock, valued at $835,281.72. This trade represents a 17.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Victor Lynn Barrett bought 3,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were acquired at an average price of $43.78 per share, for a total transaction of $131,340.00. Following the completion of the transaction, the director owned 151,724 shares in the company, valued at approximately $6,642,476.72. This trade represents a 2.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 6,290 shares of company stock valued at $269,677. Corporate insiders own 6.93% of the company’s stock.
Institutional Trading of SmartFinancial
Institutional investors and hedge funds have recently modified their holdings of the stock. Kemnay Advisory Services Inc. bought a new position in SmartFinancial during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its stake in SmartFinancial by 46.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after purchasing an additional 472 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in SmartFinancial by 173.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock valued at $64,000 after purchasing an additional 1,202 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in SmartFinancial by 209.1% in the fourth quarter. State of Alaska Department of Revenue now owns 2,105 shares of the bank’s stock worth $77,000 after purchasing an additional 1,424 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in SmartFinancial by 13.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock worth $106,000 after purchasing an additional 316 shares during the period. 58.78% of the stock is owned by institutional investors.
About SmartFinancial
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.
Featured Stories
- Five stocks we like better than SmartFinancial
- Alphabet Is Planning a New AI Chip. Here’s Why It Matters Ahead of Earnings
- Microsoft’s AI Bet Could Rewrite AMD’s Growth Story
- Travelers Stock Surges 10% as Earnings Beat Reveals Underwriting Discipline
- Buy, Hold, or Wait: 3 Small-Cap Stocks Telling Different Stories
Receive News & Ratings for SmartFinancial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SmartFinancial and related companies with MarketBeat.com's FREE daily email newsletter.
