Insider Selling: SmartFinancial (NASDAQ:SMBK) EVP Sells $22,682.50 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett Jordan sold 430 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 $599,873. This represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SmartFinancial Trading Down 0.8%

Shares of NASDAQ SMBK opened at $52.58 on Friday. The firm has a 50 day moving average price of $46.97 and a two-hundred day moving average price of $42.83. The stock has a market cap of $898.93 million, a P/E ratio of 24.57 and a beta of 0.69. SmartFinancial, Inc. has a 52-week low of $32.63 and a 52-week high of $54.14. 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 Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SMBK. Stephens increased their price target on SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $58.00 target price on shares of SmartFinancial in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their target price on shares of SmartFinancial from $46.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, July 23rd. Finally, Benchmark raised their price target on shares of SmartFinancial from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, SmartFinancial presently has a consensus rating of “Moderate Buy” and an average price target of $49.75.

Institutional Investors Weigh In On SmartFinancial

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in SmartFinancial by 3.2% in the third quarter. Vanguard Group Inc. now owns 846,978 shares of the bank’s stock valued at $30,263,000 after buying an additional 26,373 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of SmartFinancial by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 838,797 shares of the bank’s stock valued at $31,027,000 after acquiring an additional 2,268 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of SmartFinancial by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 728,151 shares of the bank’s stock valued at $26,934,000 after acquiring an additional 80,639 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of SmartFinancial by 3.2% during the 4th quarter. Renaissance Technologies LLC now owns 178,374 shares of the bank’s stock valued at $6,598,000 after acquiring an additional 5,500 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of SmartFinancial by 55.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 163,240 shares of the bank’s stock valued at $6,038,000 after acquiring an additional 58,560 shares during the period. Institutional investors and hedge funds 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.