Insider Selling: SmartFinancial, Inc. (NASDAQ:SMBK) EVP Sells 350 Shares of Stock

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett D. Jordan sold 350 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $35.76, for a total value of $12,516.00. Following the sale, the executive vice president now 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 the SEC website.

SmartFinancial Stock Down 0.7 %

Shares of SmartFinancial stock traded down $0.24 on Wednesday, hitting $35.44. 45,486 shares of the company traded hands, compared to its average volume of 58,455. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial, Inc. has a 12-month low of $19.00 and a 12-month high of $37.72. The company has a 50-day moving average price of $33.25 and a 200 day moving average price of $31.01. The company has a market cap of $599.89 million, a PE ratio of 16.56 and a beta of 0.70.

SmartFinancial Dividend Announcement

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

Institutional Investors Weigh In On SmartFinancial

Several large investors have recently made changes to their positions in the company. Huntington National Bank raised its holdings in SmartFinancial by 5,269.2% during the third quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock valued at $41,000 after buying an additional 1,370 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of SmartFinancial in the 3rd quarter valued at approximately $161,000. Geneos Wealth Management Inc. acquired a new stake in SmartFinancial in the 4th quarter worth approximately $192,000. Welch Group LLC bought a new stake in SmartFinancial during the fourth quarter worth approximately $202,000. Finally, Ridgepath Capital Management LLC acquired a new position in SmartFinancial during the fourth quarter valued at approximately $202,000. Institutional investors own 58.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Stephens lowered shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Raymond James reaffirmed a “strong-buy” rating and issued a $42.00 target price (up previously from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Finally, Hovde Group upped their price target on SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average 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.