Rhett Jordan Sells 230 Shares of SmartFinancial (NASDAQ:SMBK) Stock

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett Jordan sold 230 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $52.05, for a total value of $11,971.50. Following the completion of the sale, the executive vice president owned 11,142 shares of the company’s stock, valued at approximately $579,941.10. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

SmartFinancial Trading Up 0.5%

NASDAQ:SMBK opened at $52.33 on Wednesday. The business’s 50-day moving average is $50.72 and its two-hundred day moving average is $44.90. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. SmartFinancial, Inc. has a 12 month low of $33.01 and a 12 month high of $54.14. The firm has a market capitalization of $894.76 million, a PE ratio of 24.45 and a beta of 0.68.

SmartFinancial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 31st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, July 31st. SmartFinancial’s dividend payout ratio (DPR) is presently 10.62%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on SmartFinancial from $46.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, July 23rd. Raymond James Financial reiterated a “strong-buy” rating and set a $58.00 price objective on shares of SmartFinancial in a research note on Wednesday, July 22nd. Benchmark boosted their target price on shares of SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Finally, Stephens upped their target price 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. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC purchased a new stake in SmartFinancial during the 2nd quarter worth approximately $371,000. Engineers Gate Manager LP boosted its stake in shares of SmartFinancial by 17.7% during the 2nd quarter. Engineers Gate Manager LP now owns 6,570 shares of the bank’s stock valued at $308,000 after buying an additional 990 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of SmartFinancial by 106.6% during the 2nd quarter. Squarepoint Ops LLC now owns 15,439 shares of the bank’s stock valued at $724,000 after buying an additional 7,965 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of SmartFinancial during the second quarter worth approximately $47,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of SmartFinancial in the second quarter worth $3,746,000. Hedge funds and other institutional investors own 58.78% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company that operates through its wholly owned subsidiary, SmartBank. The company provides community banking services to individuals, businesses and institutions, with offerings that include deposit accounts, residential and commercial real estate lending, consumer loans, business loans and other credit products.

SmartBank also provides treasury management and cash-management services for businesses, along with mortgage banking, wealth management and related financial services.