SmartFinancial, Inc. (NASDAQ:SMBK) EVP Sells $12,516.00 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett D. Jordan sold 350 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $35.76, for a total value of $12,516.00. Following the completion of the transaction, the executive vice president now directly owns 9,142 shares of the company’s stock, valued at approximately $326,917.92. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

SmartFinancial Price Performance

SMBK stock traded down $0.24 during trading on Wednesday, hitting $35.44. The company had a trading volume of 45,486 shares, compared to its average volume of 58,455. The company has a fifty day moving average price of $33.25 and a two-hundred day moving average price of $31.01. SmartFinancial, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $37.72. The company has a market cap of $599.89 million, a P/E ratio of 16.56 and a beta of 0.70. The company has a current ratio of 0.90, a quick 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 will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. SmartFinancial’s dividend payout ratio is presently 14.95%.

Institutional Investors Weigh In On SmartFinancial

Several large investors have recently made changes to their positions in SMBK. Jane Street Group LLC boosted its position in SmartFinancial by 6.9% in the third quarter. Jane Street Group LLC now owns 14,925 shares of the bank’s stock valued at $435,000 after buying an additional 967 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SmartFinancial by 0.4% in the third quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock valued at $9,779,000 after acquiring an additional 1,307 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of SmartFinancial by 4.4% in the third quarter. Victory Capital Management Inc. now owns 31,849 shares of the bank’s stock valued at $928,000 after acquiring an additional 1,349 shares during the last quarter. Huntington National Bank boosted its holdings in shares of SmartFinancial by 5,269.2% in the 3rd quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock worth $41,000 after acquiring an additional 1,370 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in SmartFinancial by 32.1% during the 4th quarter. SG Americas Securities LLC now owns 7,292 shares of the bank’s stock worth $226,000 after acquiring an additional 1,771 shares during the last quarter. Institutional investors own 58.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stephens cut SmartFinancial from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Hovde Group boosted their price target on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a report on Wednesday, October 23rd. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $42.00 price objective (up from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.70.

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.