SmartFinancial (NASDAQ:SMBK) EVP Rhett Jordan Sells 230 Shares

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett Jordan sold 230 shares of SmartFinancial stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $52.05, for a total value of $11,971.50. Following the completion of the transaction, the executive vice president owned 11,142 shares of the company’s stock, valued at approximately $579,941.10. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SmartFinancial Stock Down 0.3%

NASDAQ:SMBK opened at $52.07 on Tuesday. 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 stock has a 50 day moving average of $50.60 and a 200-day moving average of $44.82. The firm has a market capitalization of $890.29 million, a PE ratio of 24.33 and a beta of 0.68. SmartFinancial, Inc. has a 52 week low of $33.01 and a 52 week high of $54.14.

SmartFinancial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 31st were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.36 annualized dividend and a yield of 0.7%. SmartFinancial’s dividend payout ratio (DPR) is currently 10.62%.

Wall Street Analysts Forecast Growth

SMBK has been the subject of several analyst reports. Raymond James Financial reissued a “strong-buy” rating and set a $58.00 price target on shares of SmartFinancial in a report on Wednesday, July 22nd. Benchmark lifted their price objective on shares of SmartFinancial from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Stephens lifted their price objective on shares of SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of SmartFinancial from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.42.

Institutional Trading of SmartFinancial

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of SmartFinancial during the second quarter valued at $3,746,000. Bank of America Corp DE lifted its holdings in SmartFinancial by 147.6% in the first quarter. Bank of America Corp DE now owns 47,443 shares of the bank’s stock worth $1,854,000 after purchasing an additional 28,280 shares during the period. Hsbc Holdings PLC lifted its holdings in SmartFinancial by 176.1% in the fourth quarter. Hsbc Holdings PLC now owns 22,325 shares of the bank’s stock worth $825,000 after purchasing an additional 14,240 shares during the period. Y Intercept Hong Kong Ltd bought a new position in SmartFinancial in the 1st quarter valued at about $792,000. Finally, Algebris UK Ltd. bought a new position in SmartFinancial in the 4th quarter valued at about $2,158,000. Institutional investors own 58.78% of the company’s stock.

About SmartFinancial

SmartFinancial, Inc is a bank holding company that operates through its wholly owned subsidiary, SmartBank. The company provides community banking services to individuals, businesses and institutions, with offerings that include deposit accounts, residential and commercial real estate lending, consumer loans, business loans and other credit products.

SmartBank also provides treasury management and cash-management services for businesses, along with mortgage banking, wealth management and related financial services.