SmartFinancial (NASDAQ:SMBK) Director Sells $176,151.00 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Director Steven Tucker sold 3,550 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $49.62, for a total value of $176,151.00. Following the completion of the transaction, the director owned 43,672 shares in the company, valued at approximately $2,167,004.64. The trade was a 7.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

SmartFinancial Stock Up 1.8%

Shares of NASDAQ SMBK traded up $0.88 during midday trading on Wednesday, hitting $49.48. 144,485 shares of the company’s stock were exchanged, compared to its average volume of 96,504. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. SmartFinancial, Inc. has a twelve month low of $34.50 and a twelve month high of $54.14. The company has a market cap of $846.01 million, a PE ratio of 23.12 and a beta of 0.71. The firm’s fifty day simple moving average is $50.41 and its 200-day simple moving average is $45.24.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, November 16th. SmartFinancial’s dividend payout ratio is currently 9.78%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of SmartFinancial from $51.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 21st. Stephens increased their target price on shares of SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Benchmark lifted their price target on shares of SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Finally, Raymond James Financial cut shares of SmartFinancial from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $58.00 to $56.00 in a research report on Wednesday, October 21st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

Institutional Investors Weigh In On SmartFinancial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMBK. Rosenthal Henry Capital Advisors Inc. purchased a new stake in SmartFinancial in the third quarter valued at approximately $1,053,000. Sage Investment Counsel LLC purchased a new position in shares of SmartFinancial during the third quarter worth approximately $206,000. USA Financial Formulas purchased a new position in shares of SmartFinancial during the third quarter worth approximately $48,000. Fortitude Family Office LLC increased its holdings in shares of SmartFinancial by 3,096.3% in the 3rd quarter. Fortitude Family Office LLC now owns 863 shares of the bank’s stock valued at $43,000 after acquiring an additional 836 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of SmartFinancial by 1,374.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock valued at $42,000 after acquiring an additional 797 shares during the period. Hedge funds and other institutional investors own 58.78% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank’s products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.