SmartFinancial (NASDAQ:SMBK) EVP Rhett Jordan Sells 430 Shares of Stock

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett Jordan sold 430 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $52.75, for a total value of $22,682.50. Following the sale, the executive vice president owned 11,372 shares of the company’s stock, valued at approximately $599,873. This trade represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

SmartFinancial Stock Performance

NASDAQ SMBK opened at $53.18 on Wednesday. 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 stock’s 50 day simple moving average is $46.52 and its 200-day simple moving average is $42.64. The company has a market cap of $909.25 million, a PE ratio of 24.85 and a beta of 0.70. SmartFinancial, Inc. has a 1-year low of $32.63 and a 1-year high of $54.14.

SmartFinancial Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SMBK shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $58.00 target price on shares of SmartFinancial in a report on Wednesday, July 22nd. Stephens upped their price objective on shares of SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Benchmark increased their price objective on shares of SmartFinancial from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of SmartFinancial from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, July 23rd. One 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’s stock. According to data from MarketBeat, SmartFinancial has a consensus rating of “Moderate Buy” and an average price target of $49.75.

Institutional Trading of SmartFinancial

Institutional investors have recently made changes to their positions in the company. Equitable Trust Co. grew its position in SmartFinancial by 2.2% in the first quarter. Equitable Trust Co. now owns 11,475 shares of the bank’s stock worth $448,000 after acquiring an additional 250 shares during the period. First Trust Advisors LP raised its position in SmartFinancial by 0.6% in the first quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock valued at $1,821,000 after purchasing an additional 280 shares during the period. PNC Financial Services Group Inc. raised its position in SmartFinancial by 13.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock valued at $106,000 after purchasing an additional 316 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of SmartFinancial by 5.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,860 shares of the bank’s stock valued at $217,000 after purchasing an additional 321 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of SmartFinancial by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank’s stock valued at $295,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

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.