SmartFinancial (NASDAQ:SMBK) Director Steven Tucker Sells 3,550 Shares of Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Director Steven Tucker sold 3,550 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $49.62, for a total transaction of $176,151.00. Following the sale, the director owned 43,672 shares of the company’s stock, valued at $2,167,004.64. This represents a 7.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SmartFinancial Trading Up 1.8%

Shares of SmartFinancial stock opened at $49.48 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $50.38 and a 200-day simple moving average of $45.29. The stock has a market cap of $846.01 million, a price-to-earnings ratio of 23.12 and a beta of 0.74. SmartFinancial, Inc. has a 12-month low of $34.50 and a 12-month high of $54.14.

SmartFinancial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, November 16th. SmartFinancial’s dividend payout ratio is currently 9.78%.

Hedge Funds Weigh In On SmartFinancial

Several hedge funds have recently bought and sold shares of the company. Rosenthal Henry Capital Advisors Inc. purchased a new position in SmartFinancial during the third quarter worth $1,053,000. Sage Investment Counsel LLC acquired a new position in shares of SmartFinancial in the third quarter worth $206,000. USA Financial Formulas acquired a new position in shares of SmartFinancial in the third quarter worth $48,000. Fortitude Family Office LLC lifted its position in shares of SmartFinancial by 3,096.3% in the third quarter. Fortitude Family Office LLC now owns 863 shares of the bank’s stock valued at $43,000 after acquiring an additional 836 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of SmartFinancial by 1,374.1% in the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock valued at $42,000 after acquiring an additional 797 shares in the last quarter. 58.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SMBK has been the topic of a number of research analyst reports. Raymond James Financial cut SmartFinancial from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $58.00 to $56.00 in a research report on Wednesday, October 21st. Keefe, Bruyette & Woods upped their target price on SmartFinancial from $51.00 to $52.00 and gave the company a “market perform” rating in a research report on Wednesday, October 21st. Benchmark raised their price target on SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Finally, Stephens raised their price target on SmartFinancial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

About SmartFinancial

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank’s products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.