SmartFinancial, Inc. (SMBK) To Go Ex-Dividend on August 9th

SmartFinancial, Inc. (NASDAQ:SMBK) announced a quarterly dividend on Thursday, July 25th, NASDAQ reports. Investors of record on Friday, August 9th will be given a dividend of 0.08 per share by the bank on Monday, August 26th. This represents a $0.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, August 9th.

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

SmartFinancial Stock Up 1.3 %

SMBK opened at $28.20 on Friday. The firm has a 50 day moving average price of $23.76 and a 200 day moving average price of $22.36. The company has a market cap of $481.09 million, a PE ratio of 15.55 and a beta of 0.71. SmartFinancial has a 1 year low of $19.00 and a 1 year high of $28.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89.

SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. SmartFinancial had a net margin of 9.93% and a return on equity of 6.60%. The company had revenue of $68.89 million during the quarter, compared to the consensus estimate of $40.32 million. During the same quarter last year, the company earned $0.52 earnings per share. Sell-side analysts expect that SmartFinancial will post 1.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John M. Presley sold 7,500 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $22.65, for a total transaction of $169,875.00. Following the transaction, the director now directly owns 35,073 shares in the company, valued at $794,403.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SMBK shares. Hovde Group increased their price objective on shares of SmartFinancial from $24.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday. Piper Sandler downgraded shares of SmartFinancial from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $26.00 to $28.00 in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on shares of SmartFinancial from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Finally, Stephens reiterated an “overweight” rating and set a $27.00 target price on shares of SmartFinancial in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, SmartFinancial currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

About SmartFinancial

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.