SmartFinancial (NASDAQ:SMBK) Sees Unusually-High Trading Volume – Time to Buy?

SmartFinancial, Inc. (NASDAQ:SMBK) shares saw strong trading volume on Monday . 89,018 shares changed hands during trading, an increase of 66% from the previous session’s volume of 53,577 shares.The stock last traded at $32.64 and had previously closed at $31.47.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SMBK shares. Keefe, Bruyette & Woods lowered their target price on shares of SmartFinancial from $37.00 to $35.00 and set a “market perform” rating for the company in a research note on Thursday, April 24th. Stephens reissued an “equal weight” rating and issued a $31.00 price target on shares of SmartFinancial in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.70.

SmartFinancial Price Performance

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 50-day moving average of $31.20 and a 200-day moving average of $31.97. The firm has a market capitalization of $556.68 million, a price-to-earnings ratio of 15.29 and a beta of 0.70.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Friday, May 2nd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, May 2nd. SmartFinancial’s payout ratio is currently 14.16%.

Institutional Investors Weigh In On SmartFinancial

Several large investors have recently made changes to their positions in SMBK. Tower Research Capital LLC TRC lifted its position in SmartFinancial by 269.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank’s stock valued at $48,000 after acquiring an additional 1,122 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in SmartFinancial during the 1st quarter worth about $61,000. GAMMA Investing LLC raised its stake in shares of SmartFinancial by 19,400.0% in the 1st quarter. GAMMA Investing LLC now owns 2,145 shares of the bank’s stock valued at $69,000 after purchasing an additional 2,134 shares during the period. CWM LLC lifted its holdings in shares of SmartFinancial by 282.9% in the first quarter. CWM LLC now owns 2,489 shares of the bank’s stock valued at $77,000 after purchasing an additional 1,839 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of SmartFinancial in the fourth quarter valued at about $104,000. Institutional investors own 58.78% of the company’s stock.

About SmartFinancial

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.