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

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett D. Jordan sold 350 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 9,142 shares in the company, valued at approximately $326,917.92. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

SmartFinancial Stock Performance

NASDAQ:SMBK opened at $35.12 on Friday. SmartFinancial, Inc. has a 1-year low of $19.00 and a 1-year high of $37.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50 day moving average of $33.21 and a 200 day moving average of $31.11. The company has a market capitalization of $594.63 million, a price-to-earnings ratio of 16.41 and a beta of 0.70.

SmartFinancial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, January 31st. SmartFinancial’s dividend payout ratio is currently 14.95%.

Institutional Trading of SmartFinancial

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of SmartFinancial by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 699,794 shares of the bank’s stock worth $16,563,000 after buying an additional 35,054 shares during the period. Wellington Management Group LLP grew its position in SmartFinancial by 69.0% during the 3rd quarter. Wellington Management Group LLP now owns 340,418 shares of the bank’s stock worth $9,920,000 after acquiring an additional 139,009 shares during the last quarter. State Street Corp increased its stake in SmartFinancial by 3.3% in the 3rd quarter. State Street Corp now owns 336,147 shares of the bank’s stock worth $9,795,000 after purchasing an additional 10,623 shares during the period. Geode Capital Management LLC lifted its position in SmartFinancial by 0.4% in the third quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock valued at $9,779,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Foundry Partners LLC boosted its stake in shares of SmartFinancial by 23.9% during the third quarter. Foundry Partners LLC now owns 184,555 shares of the bank’s stock valued at $5,378,000 after purchasing an additional 35,565 shares during the period. 58.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SMBK. Hovde Group upped their target price on SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a research note on Wednesday, October 23rd. Stephens downgraded shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Finally, Raymond James reissued a “strong-buy” rating and issued a $42.00 price target (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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.70.

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.