SmartFinancial (NASDAQ:SMBK) Given Overweight Rating at Stephens

Stephens reaffirmed their overweight rating on shares of SmartFinancial (NASDAQ:SMBK) in a report issued on Tuesday, Benzinga reports. The firm currently has a $26.00 price target on the bank’s stock.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their price target on SmartFinancial from $25.00 to $26.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th. Raymond James increased their target price on SmartFinancial from $24.00 to $28.00 and gave the company a strong-buy rating in a research note on Friday, January 5th. Finally, StockNews.com upgraded SmartFinancial from a sell rating to a hold rating in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $25.40.

SmartFinancial Stock Performance

Shares of NASDAQ:SMBK opened at $20.66 on Tuesday. The firm has a market capitalization of $352.46 million, a PE ratio of 13.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50-day moving average of $20.73 and a two-hundred day moving average of $21.92. SmartFinancial has a 12 month low of $18.86 and a 12 month high of $25.98.

SmartFinancial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.32 dividend on an annualized basis and a yield of 1.55%. SmartFinancial’s dividend payout ratio (DPR) is presently 20.51%.

Insider Buying and Selling at SmartFinancial

In other SmartFinancial news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total transaction of $51,782.22. Following the completion of the sale, the executive vice president now owns 19,091 shares in the company, valued at approximately $412,938.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On SmartFinancial

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in SmartFinancial during the 3rd quarter valued at approximately $159,000. Panagora Asset Management Inc. bought a new stake in shares of SmartFinancial in the 3rd quarter valued at approximately $758,000. SlateStone Wealth LLC increased its holdings in shares of SmartFinancial by 54.2% in the 4th quarter. SlateStone Wealth LLC now owns 33,427 shares of the bank’s stock valued at $819,000 after acquiring an additional 11,750 shares during the last quarter. Swiss National Bank increased its holdings in shares of SmartFinancial by 2.6% in the 3rd quarter. Swiss National Bank now owns 31,747 shares of the bank’s stock valued at $678,000 after acquiring an additional 800 shares during the last quarter. Finally, Foundry Partners LLC increased its holdings in shares of SmartFinancial by 44.9% in the 4th quarter. Foundry Partners LLC now owns 106,463 shares of the bank’s stock valued at $2,607,000 after acquiring an additional 32,968 shares during the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

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.