Rhett Jordan Sells 430 Shares of SmartFinancial (NASDAQ:SMBK) Stock

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett Jordan sold 430 shares of SmartFinancial stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $52.75, for a total value of $22,682.50. Following the completion of the transaction, the executive vice president directly owned 11,372 shares of the company’s stock, valued at approximately $599,873. This represents a 3.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

SmartFinancial Stock Down 0.5%

NASDAQ:SMBK opened at $52.94 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $905.17 million, a P/E ratio of 24.74 and a beta of 0.69. SmartFinancial, Inc. has a fifty-two week low of $32.63 and a fifty-two week high of $54.14. The firm has a 50-day simple moving average of $46.75 and a two-hundred day simple moving average of $42.74.

SmartFinancial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, July 31st. SmartFinancial’s payout ratio is presently 10.62%.

Analyst Ratings Changes

SMBK has been the subject of a number of research analyst reports. Stephens lifted their target price on SmartFinancial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Raymond James Financial reaffirmed 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 SmartFinancial from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on SmartFinancial from $46.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, SmartFinancial currently has an average rating of “Moderate Buy” and an average target price of $49.75.

Institutional Trading of SmartFinancial

Hedge funds have recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in shares of SmartFinancial during the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of SmartFinancial by 46.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock worth $51,000 after purchasing an additional 472 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of SmartFinancial by 173.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock worth $64,000 after buying an additional 1,202 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of 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 buying an additional 1,424 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in SmartFinancial by 13.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock valued at $106,000 after buying an additional 316 shares during the period. 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, 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.