SmartFinancial (NASDAQ:SMBK) EVP Rhett Jordan Sells 400 Shares

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett Jordan sold 400 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $45.00, for a total transaction of $18,000.00. Following the completion of the transaction, the executive vice president owned 11,802 shares in the company, valued at approximately $531,090. The trade was a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

SmartFinancial Trading Up 1.4%

NASDAQ SMBK opened at $45.46 on Friday. The company’s 50-day moving average price is $41.77 and its 200-day moving average price is $39.95. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The stock has a market cap of $777.34 million, a PE ratio of 21.24 and a beta of 0.72. SmartFinancial, Inc. has a 12 month low of $30.95 and a 12 month high of $45.63.

SmartFinancial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 15th. This is a positive change from SmartFinancial’s previous quarterly dividend of $0.08. SmartFinancial’s dividend payout ratio (DPR) is currently 11.54%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of SmartFinancial

Hedge funds have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of SmartFinancial during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in shares of SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after buying an additional 472 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of SmartFinancial by 173.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock valued at $64,000 after buying an additional 1,202 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of SmartFinancial by 209.1% during the fourth quarter. State of Alaska Department of Revenue now owns 2,105 shares of the bank’s stock valued at $77,000 after buying an additional 1,424 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of 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 last quarter. 58.78% of the stock is owned by hedge funds and other institutional investors.

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.