SmartFinancial (NASDAQ:SMBK) Director Kelli Shomaker Purchases 255 Shares

SmartFinancial, Inc. (NASDAQ:SMBK) Director Kelli Shomaker purchased 255 shares of the stock in a transaction dated Tuesday, January 27th. The shares were acquired at an average cost of $39.38 per share, for a total transaction of $10,041.90. Following the completion of the acquisition, the director owned 1,022 shares of the company’s stock, valued at approximately $40,246.36. This represents a 33.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

SmartFinancial Price Performance

NASDAQ SMBK opened at $39.02 on Thursday. SmartFinancial, Inc. has a one year low of $26.31 and a one year high of $42.96. The stock has a 50-day moving average of $37.96 and a 200 day moving average of $36.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $664.35 million, a price-to-earnings ratio of 18.23 and a beta of 0.75.

SmartFinancial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. SmartFinancial’s payout ratio is 10.74%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SMBK. CSM Advisors LLC purchased a new stake in SmartFinancial in the 2nd quarter worth approximately $5,996,000. Wellington Management Group LLP increased its stake in shares of SmartFinancial by 11.1% in the third quarter. Wellington Management Group LLP now owns 647,512 shares of the bank’s stock worth $23,136,000 after purchasing an additional 64,810 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of SmartFinancial during the 3rd quarter valued at $1,614,000. North Reef Capital Management LP lifted its stake in shares of SmartFinancial by 83.4% during the 3rd quarter. North Reef Capital Management LP now owns 84,570 shares of the bank’s stock valued at $3,022,000 after buying an additional 38,466 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in SmartFinancial by 134.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 63,519 shares of the bank’s stock worth $2,270,000 after buying an additional 36,476 shares during the period. 58.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SMBK has been the subject of several research analyst reports. Hovde Group raised SmartFinancial from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a report on Thursday, January 22nd. Piper Sandler boosted their price target on SmartFinancial from $37.00 to $39.50 and gave the company a “neutral” rating in a research note on Monday, October 27th. Zacks Research lowered shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of SmartFinancial from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, SmartFinancial currently has an average rating of “Moderate Buy” and an average price target of $40.50.

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.