SmartFinancial (NASDAQ:SMBK) Stock Passes Below 50 Day Moving Average – Time to Sell?

SmartFinancial, Inc. (NASDAQ:SMBK) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $33.63 and traded as low as $31.14. SmartFinancial shares last traded at $31.19, with a volume of 57,833 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMBK. Stephens lowered shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Raymond James reissued a “strong-buy” rating and set a $42.00 price objective (up previously from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.70.

SmartFinancial Price Performance

The firm has a market cap of $527.84 million, a PE ratio of 14.57 and a beta of 0.67. The firm’s fifty day simple moving average is $33.63 and its two-hundred day simple moving average is $32.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, January 31st. SmartFinancial’s dividend payout ratio (DPR) is 14.95%.

Insider Buying and Selling

In other SmartFinancial news, Chairman Wesley Miller Welborn purchased 1,162 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of $34.75 per share, for a total transaction of $40,379.50. Following the purchase, the chairman now directly owns 96,938 shares of the company’s stock, valued at $3,368,595.50. This trade represents a 1.21 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SmartFinancial

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in SmartFinancial by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,091 shares of the bank’s stock valued at $282,000 after acquiring an additional 380 shares in the last quarter. Trexquant Investment LP boosted its holdings in shares of SmartFinancial by 1.8% during the 4th quarter. Trexquant Investment LP now owns 30,026 shares of the bank’s stock valued at $930,000 after purchasing an additional 543 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of SmartFinancial by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,448 shares of the bank’s stock valued at $1,377,000 after purchasing an additional 550 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of SmartFinancial by 6.9% in the third quarter. Jane Street Group LLC now owns 14,925 shares of the bank’s stock worth $435,000 after purchasing an additional 967 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of SmartFinancial by 269.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank’s stock worth $48,000 after buying an additional 1,122 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

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.