SmartFinancial, Inc. (NASDAQ:SMBK) Declares $0.08 Quarterly Dividend

SmartFinancial, Inc. (NASDAQ:SMBK) announced a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Shareholders of record on Friday, January 31st will be paid a dividend of 0.08 per share by the bank on Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, January 31st.

SmartFinancial has raised its dividend payment by an average of 17.0% per year over the last three years.

SmartFinancial Price Performance

SMBK traded up $2.52 during trading on Wednesday, reaching $34.70. 82,514 shares of the company traded hands, compared to its average volume of 58,093. 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 has a 12-month low of $19.00 and a 12-month high of $37.72. The firm has a fifty day simple moving average of $33.32 and a 200 day simple moving average of $30.60. The company has a market cap of $587.47 million, a P/E ratio of 17.89 and a beta of 0.70.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. The business had revenue of $73.10 million during the quarter, compared to analyst estimates of $42.32 million. During the same period last year, the firm posted $0.43 EPS. On average, equities analysts forecast that SmartFinancial will post 2.03 EPS for the current year.

Insider Buying and Selling at SmartFinancial

In related news, Director John M. Presley sold 6,916 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $35.05, for a total transaction of $242,405.80. Following the transaction, the director now owns 3,960 shares in the company, valued at $138,798. This trade represents a 63.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 7,516 shares of company stock worth $262,600 in the last three months. 7.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SMBK has been the subject of a number of recent research reports. Raymond James raised their target price on shares of SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 23rd. Stephens lowered shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Finally, Hovde Group raised their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.50.

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.