Brokerages Set SmartFinancial, Inc. (NASDAQ:SMBK) Price Target at $39.10

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have been assigned an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $39.10.

A number of analysts have recently weighed in on SMBK shares. Hovde Group increased their price target on SmartFinancial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Piper Sandler upped their price objective on SmartFinancial from $37.00 to $39.50 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Zacks Research lowered SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of SmartFinancial from $38.00 to $40.00 and gave the company a “market perform” rating in a report on Tuesday, November 4th.

SmartFinancial Price Performance

Shares of NASDAQ:SMBK opened at $39.56 on Tuesday. The company has a market cap of $673.56 million, a PE ratio of 18.48 and a beta of 0.75. SmartFinancial has a fifty-two week low of $26.31 and a fifty-two week high of $40.08. The firm has a 50-day simple moving average of $36.10 and a 200 day simple moving average of $35.34. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Monday, November 17th were given a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 annualized dividend and a yield of 0.8%. SmartFinancial’s dividend payout ratio (DPR) is currently 11.68%.

Insider Transactions at SmartFinancial

In other SmartFinancial news, Director Steven B. Tucker sold 10,625 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $38.01, for a total value of $403,856.25. Following the completion of the transaction, the director owned 49,914 shares in the company, valued at approximately $1,897,231.14. This represents a 17.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.62% of the stock is owned by insiders.

Institutional Investors Weigh In On SmartFinancial

Hedge funds have recently made changes to their positions in the business. Tripletail Wealth Management LLC acquired a new stake in SmartFinancial in the 3rd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its stake in shares of SmartFinancial by 46.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock worth $51,000 after purchasing an additional 472 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of SmartFinancial during the first quarter valued at $61,000. Tower Research Capital LLC TRC raised its stake 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 purchasing an additional 1,202 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of SmartFinancial by 24.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,243 shares of the bank’s stock valued at $76,000 after purchasing an additional 438 shares in the last quarter. Institutional investors own 58.78% of the company’s stock.

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.