SmartFinancial (NASDAQ:SMBK) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

SmartFinancial, Inc. (NASDAQ:SMBK) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $33.63 and traded as low as $31.14. SmartFinancial shares last traded at $31.19, with a volume of 57,833 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SMBK shares. Raymond James reaffirmed a “strong-buy” rating and issued a $42.00 target price (up from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Stephens cut shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Four investment 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 company presently has a consensus rating of “Hold” and an average target price of $30.70.

SmartFinancial Trading Down 1.6 %

The stock’s 50 day moving average is $33.63 and its 200-day moving average is $32.60. The company has a market cap of $527.84 million, a P/E ratio of 14.57 and a beta of 0.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. SmartFinancial’s dividend payout ratio is presently 14.95%.

Insider Activity at SmartFinancial

In other SmartFinancial news, Chairman Wesley Miller Welborn acquired 1,162 shares of SmartFinancial stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average cost of $34.75 per share, for a total transaction of $40,379.50. Following the acquisition, the chairman now owns 96,938 shares of the company’s stock, valued at $3,368,595.50. This represents a 1.21 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.68% of the stock is owned by insiders.

Institutional Trading of SmartFinancial

A number of institutional investors have recently made changes to their positions in SMBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in SmartFinancial by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,091 shares of the bank’s stock valued at $282,000 after purchasing an additional 380 shares during the period. Trexquant Investment LP raised its stake in SmartFinancial by 1.8% during the 4th quarter. Trexquant Investment LP now owns 30,026 shares of the bank’s stock valued at $930,000 after buying an additional 543 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of SmartFinancial by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,448 shares of the bank’s stock valued at $1,377,000 after buying an additional 550 shares during the period. Jane Street Group LLC boosted its stake in shares of SmartFinancial by 6.9% in the 3rd quarter. Jane Street Group LLC now owns 14,925 shares of the bank’s stock worth $435,000 after buying an additional 967 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of SmartFinancial by 269.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank’s stock worth $48,000 after acquiring an additional 1,122 shares during the period. Hedge funds and other institutional investors own 58.78% of the company’s stock.

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.