SmartFinancial (NASDAQ:SMBK) Director Victor Lynn Barrett Purchases 3,000 Shares

SmartFinancial, Inc. (NASDAQ:SMBK) Director Victor Lynn Barrett bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were bought at an average cost of $43.78 per share, with a total value of $131,340.00. Following the completion of the purchase, the director directly owned 151,724 shares of the company’s stock, valued at $6,642,476.72. This represents a 2.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

SmartFinancial Stock Performance

SMBK opened at $44.35 on Thursday. The stock has a market capitalization of $758.35 million, a price-to-earnings ratio of 20.73 and a beta of 0.72. The company has a fifty day moving average of $41.53 and a 200 day moving average of $39.85. SmartFinancial, Inc. has a fifty-two week low of $30.95 and a fifty-two week high of $44.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90.

SmartFinancial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from SmartFinancial’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.8%. SmartFinancial’s dividend payout ratio is 11.54%.

Analysts Set New Price Targets

A number of equities analysts have commented on SMBK shares. Zacks Research cut shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Keefe, Bruyette & Woods lifted their price objective on shares of SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 21st. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $50.00 price objective on shares of SmartFinancial in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.88.

Institutional Investors Weigh In On SmartFinancial

Several institutional investors have recently made changes to their positions in SMBK. First Eagle Investment Management LLC lifted its holdings in shares of SmartFinancial by 375.5% in the 4th quarter. First Eagle Investment Management LLC now owns 152,167 shares of the bank’s stock worth $5,629,000 after acquiring an additional 120,167 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of SmartFinancial by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 728,151 shares of the bank’s stock worth $26,934,000 after acquiring an additional 80,639 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of SmartFinancial by 55.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 163,240 shares of the bank’s stock worth $6,038,000 after acquiring an additional 58,560 shares during the last quarter. Algebris UK Ltd. bought a new stake in shares of SmartFinancial in the 4th quarter worth about $2,158,000. Finally, North Reef Capital Management LP lifted its holdings in shares of SmartFinancial by 59.5% in the 4th quarter. North Reef Capital Management LP now owns 134,871 shares of the bank’s stock worth $4,989,000 after acquiring an additional 50,301 shares during the last quarter. 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.