Insider Selling: SmartFinancial (NASDAQ:SMBK) Director Sells $173,250.00 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Director Steven Tucker sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $49.50, for a total transaction of $173,250.00. Following the transaction, the director owned 47,222 shares in the company, valued at approximately $2,337,489. This trade represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

SmartFinancial Stock Performance

Shares of SmartFinancial stock opened at $48.52 on Thursday. The firm’s fifty day simple moving average is $50.58 and its 200-day simple moving average is $45.03. The stock has a market capitalization of $829.66 million, a price-to-earnings ratio of 22.67 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 company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SMBK shares. Keefe, Bruyette & Woods upped their target price on shares of SmartFinancial from $51.00 to $52.00 and gave the company a “market perform” rating in a report on Wednesday, October 21st. Raymond James Financial cut SmartFinancial from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $58.00 to $56.00 in a research report on Wednesday, October 21st. Stephens boosted their price target 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, Benchmark upped their price objective on SmartFinancial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

Hedge Funds Weigh In On SmartFinancial

Large investors have recently bought and sold shares of the company. Equitable Trust Co. boosted its holdings in shares of SmartFinancial by 2.2% in the first quarter. Equitable Trust Co. now owns 11,475 shares of the bank’s stock valued at $448,000 after acquiring an additional 250 shares in the last quarter. First Trust Advisors LP increased its stake in shares of SmartFinancial by 0.6% during the first quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock worth $1,821,000 after acquiring an additional 280 shares during the period. PNC Financial Services Group Inc. raised its holdings in SmartFinancial by 13.2% during 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 in the last quarter. Inspire Investing LLC raised its holdings in SmartFinancial by 3.1% during the first quarter. Inspire Investing LLC now owns 13,061 shares of the bank’s stock worth $510,000 after purchasing an additional 393 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in SmartFinancial by 1,374.1% during the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock worth $42,000 after purchasing an additional 797 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, 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.