SmartFinancial (NASDAQ:SMBK) Director Buys $131,340.00 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Director Victor Lynn Barrett acquired 3,000 shares of SmartFinancial stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average cost of $43.78 per share, with a total value of $131,340.00. Following the transaction, the director owned 151,724 shares of the company’s stock, valued at approximately $6,642,476.72. The trade was a 2.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

SmartFinancial Price Performance

SMBK opened at $45.46 on Friday. The stock has a market cap of $777.34 million, a price-to-earnings ratio of 21.24 and a beta of 0.72. SmartFinancial, Inc. has a 1 year low of $30.95 and a 1 year high of $45.63. 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 fifty day moving average price of $41.77 and a 200 day moving average price of $39.95.

SmartFinancial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from SmartFinancial’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. SmartFinancial’s payout ratio is 11.54%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMBK. Keefe, Bruyette & Woods boosted their price target on SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 21st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $50.00 price target on shares of SmartFinancial in a research report on Monday, April 20th. Finally, Zacks Research cut SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.88.

Institutional Trading of SmartFinancial

A number of institutional investors and hedge funds have recently made changes to their positions in SMBK. SG Americas Securities LLC increased its stake in shares of SmartFinancial by 801.7% in the fourth quarter. SG Americas Securities LLC now owns 34,607 shares of the bank’s stock worth $1,280,000 after purchasing an additional 30,769 shares during the period. First Eagle Investment Management LLC bought a new position in shares of SmartFinancial in the third quarter worth about $1,143,000. Deprince Race & Zollo Inc. increased its stake in shares of SmartFinancial by 14.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 132,067 shares of the bank’s stock worth $4,885,000 after purchasing an additional 16,367 shares during the period. North Reef Capital Management LP increased its stake in shares of SmartFinancial by 83.4% in the third quarter. North Reef Capital Management LP now owns 84,570 shares of the bank’s stock worth $3,022,000 after purchasing an additional 38,466 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in shares of SmartFinancial in the third quarter worth about $724,000. 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.