SmartFinancial, Inc. (SMBK) to Distribute Quarterly Dividend of $0.09 on August 17th

SmartFinancial, Inc. (NASDAQ:SMBK) announced a quarterly dividend on Thursday, July 16th. Stockholders of record on Friday, July 31st will be paid a dividend of 0.09 per share by the bank on Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, July 31st.

SmartFinancial has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 3 consecutive years.

SmartFinancial Trading Up 3.7%

SMBK opened at $53.19 on Wednesday. The stock has a market capitalization of $909.36 million, a price-to-earnings ratio of 24.85 and a beta of 0.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average price of $45.41 and a 200 day moving average price of $42.12. SmartFinancial has a 12 month low of $32.63 and a 12 month high of $53.25.

Insider Activity at SmartFinancial

In other news, Director Cathy G. Ackermann bought 3,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was acquired at an average price of $42.12 per share, for a total transaction of $126,360.00. Following the acquisition, the director owned 19,831 shares of the company’s stock, valued at $835,281.72. This trade represents a 17.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Victor Lynn Barrett bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average price of $43.78 per share, with a total value of $131,340.00. Following the acquisition, the director directly owned 151,724 shares in the company, valued at approximately $6,642,476.72. This trade represents a 2.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 6,290 shares of company stock valued at $269,677 in the last ninety days. 6.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kemnay Advisory Services Inc. purchased a new stake in SmartFinancial during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of SmartFinancial by 46.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after acquiring an additional 472 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of SmartFinancial by 173.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock valued at $64,000 after acquiring an additional 1,202 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of SmartFinancial by 209.1% during the 4th quarter. State of Alaska Department of Revenue now owns 2,105 shares of the bank’s stock valued at $77,000 after acquiring an additional 1,424 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in SmartFinancial by 13.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock worth $106,000 after purchasing an additional 316 shares during the period. 58.78% of the stock is owned by institutional investors and hedge funds.

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.