SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett D. Jordan Sells 350 Shares

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett D. Jordan sold 350 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $35.76, for a total transaction of $12,516.00. Following the transaction, the executive vice president now directly owns 9,142 shares of the company’s stock, valued at $326,917.92. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

SmartFinancial Trading Down 0.7 %

Shares of SmartFinancial stock opened at $35.44 on Thursday. The firm has a 50-day simple moving average of $33.25 and a two-hundred day simple moving average of $31.01. 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, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $37.72. The company has a market cap of $599.89 million, a P/E ratio of 16.56 and a beta of 0.70.

SmartFinancial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. SmartFinancial’s payout ratio is 14.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SMBK. Stephens lowered shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Hovde Group lifted their price objective on SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research note on Wednesday, October 23rd. Finally, Raymond James restated a “strong-buy” rating and issued a $42.00 target price (up previously from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.70.

Institutional Trading of SmartFinancial

Institutional investors have recently bought and sold shares of the business. Huntington National Bank raised its stake in shares of SmartFinancial by 5,269.2% during the 3rd quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock worth $41,000 after buying an additional 1,370 shares during the period. SG Americas Securities LLC acquired a new position in SmartFinancial during the third quarter worth $161,000. Geneos Wealth Management Inc. acquired a new position in SmartFinancial during the fourth quarter worth $192,000. Welch Group LLC purchased a new position in SmartFinancial during the fourth quarter valued at $202,000. Finally, Ridgepath Capital Management LLC acquired a new stake in shares of SmartFinancial in the fourth quarter valued at about $202,000. 58.78% of the stock is owned by institutional investors and hedge funds.

SmartFinancial Company Profile

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.