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

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett Jordan sold 430 shares of SmartFinancial stock in a transaction dated 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 approximately $599,873. This represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SmartFinancial Stock Down 0.0%

SMBK traded down $0.00 on Tuesday, hitting $53.18. 146,408 shares of the company were exchanged, compared to its average volume of 87,932. The firm has a 50-day moving average price of $46.30 and a two-hundred day moving average price of $42.54. 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, Inc. has a twelve month low of $32.63 and a twelve month high of $54.14. The company has a market cap of $909.25 million, a price-to-earnings ratio of 24.85 and a beta of 0.70.

SmartFinancial Dividend Announcement

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

Institutional Trading of SmartFinancial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its position in SmartFinancial by 801.7% in the 4th quarter. SG Americas Securities LLC now owns 34,607 shares of the bank’s stock worth $1,280,000 after buying an additional 30,769 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of SmartFinancial by 14.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 132,067 shares of the bank’s stock valued at $4,885,000 after acquiring an additional 16,367 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of SmartFinancial in the first quarter valued at approximately $792,000. Hsbc Holdings PLC lifted its position in SmartFinancial by 176.1% during the 4th quarter. Hsbc Holdings PLC now owns 22,325 shares of the bank’s stock worth $825,000 after acquiring an additional 14,240 shares during the last quarter. Finally, Algebris UK Ltd. bought a new stake in SmartFinancial during the 4th quarter valued at approximately $2,158,000. Institutional investors own 58.78% of the company’s stock.

Analyst Ratings Changes

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

About SmartFinancial

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.