SmartFinancial (NASDAQ:SMBK) EVP Sells $18,000.00 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett Jordan sold 400 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $18,000.00. Following the transaction, the executive vice president directly owned 11,802 shares in the company, valued at approximately $531,090. This represents a 3.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

SmartFinancial Trading Up 1.4%

SMBK traded up $0.62 during trading on Friday, hitting $45.46. 105,900 shares of the stock traded hands, compared to its average volume of 73,273. The firm has a market capitalization of $777.34 million, a P/E ratio of 21.24 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50-day moving average of $41.64 and a 200 day moving average of $39.92. SmartFinancial, Inc. has a 12-month low of $30.95 and a 12-month high of $45.63.

SmartFinancial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. This is a positive change from SmartFinancial’s previous quarterly dividend of $0.08. SmartFinancial’s dividend payout ratio is 11.54%.

Institutional Trading of SmartFinancial

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in shares of SmartFinancial by 801.7% in the fourth quarter. SG Americas Securities LLC now owns 34,607 shares of the bank’s stock worth $1,280,000 after acquiring an additional 30,769 shares during the period. Deprince Race & Zollo Inc. grew its stake in shares of SmartFinancial by 14.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 132,067 shares of the bank’s stock worth $4,885,000 after acquiring an additional 16,367 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of SmartFinancial in the third quarter worth approximately $1,143,000. North Reef Capital Management LP grew its stake in shares of SmartFinancial by 83.4% in the third quarter. North Reef Capital Management LP now owns 84,570 shares of the bank’s stock worth $3,022,000 after acquiring an additional 38,466 shares during the period. Finally, Tudor Investment Corp ET AL bought a new stake in shares of SmartFinancial in the third quarter worth approximately $724,000. 58.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $50.00 price target on shares of SmartFinancial in a research note on Monday, April 20th. Finally, Zacks Research lowered shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.88.

SmartFinancial Company Profile

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.