SmartFinancial, Inc. (NASDAQ:SMBK) Plans Quarterly Dividend of $0.08

SmartFinancial, Inc. (NASDAQ:SMBK) declared a quarterly dividend on Thursday, April 25th, NASDAQ reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.08 per share by the bank on Tuesday, May 28th. This represents a $0.32 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 9th.

SmartFinancial has a payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SmartFinancial to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.9%.

SmartFinancial Price Performance

SmartFinancial stock opened at $20.66 on Friday. SmartFinancial has a 12 month low of $18.86 and a 12 month high of $25.98. The stock’s 50 day moving average is $20.73 and its 200-day moving average is $21.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $352.46 million, a price-to-earnings ratio of 11.27 and a beta of 0.69.

Insider Buying and Selling at SmartFinancial

In related news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total transaction of $51,782.22. Following the sale, the executive vice president now owns 19,091 shares of the company’s stock, valued at approximately $412,938.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SMBK. Hovde Group reduced their price target on SmartFinancial from $26.00 to $23.00 and set a “market perform” rating on the stock in a research report on Wednesday. Piper Sandler raised SmartFinancial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $25.00 to $26.00 in a research report on Wednesday. Raymond James increased their price target on SmartFinancial from $24.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Stephens reissued an “overweight” rating and set a $26.00 price target on shares of SmartFinancial in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reduced their price target on SmartFinancial from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, SmartFinancial presently has a consensus rating of “Moderate Buy” and an average price target of $25.40.

SmartFinancial Company Profile

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.