SmartFinancial (NASDAQ:SMBK) Director Acquires $131,340.00 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Director Victor Lynn Barrett bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average cost of $43.78 per share, for a total transaction of $131,340.00. Following the completion of the purchase, the director owned 151,724 shares of the company’s stock, valued at $6,642,476.72. This trade represents a 2.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SmartFinancial Trading Up 1.8%

Shares of NASDAQ SMBK traded up $0.80 during mid-day trading on Wednesday, hitting $44.35. The stock had a trading volume of 91,437 shares, compared to its average volume of 72,700. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. SmartFinancial, Inc. has a 1 year low of $30.95 and a 1 year high of $44.55. The business has a 50 day moving average price of $41.42 and a two-hundred day moving average price of $39.78. The firm has a market cap of $758.35 million, a P/E ratio of 20.73 and a beta of 0.72.

SmartFinancial Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $50.00 price objective on shares of SmartFinancial in a research report on Monday, April 20th. Keefe, Bruyette & Woods boosted their price objective on shares of SmartFinancial from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Tuesday, April 21st. Finally, Zacks Research downgraded shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, SmartFinancial presently has an average rating of “Moderate Buy” and a consensus price target of $45.88.

Institutional Trading of SmartFinancial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Equitable Trust Co. boosted its stake in SmartFinancial by 2.2% in the 1st quarter. Equitable Trust Co. now owns 11,475 shares of the bank’s stock worth $448,000 after purchasing an additional 250 shares in the last quarter. First Trust Advisors LP boosted its stake in SmartFinancial by 0.6% in the 1st quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock worth $1,821,000 after purchasing an additional 280 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in SmartFinancial by 13.2% in the 1st 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. Harbor Capital Advisors Inc. boosted its stake in SmartFinancial by 5.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,860 shares of the bank’s stock worth $217,000 after purchasing an additional 321 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SmartFinancial by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank’s stock worth $295,000 after purchasing an additional 390 shares in the last quarter. 58.78% of the stock is owned by hedge funds and other institutional investors.

About SmartFinancial

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.