SmartFinancial, Inc. (NASDAQ:SMBK) EVP Sells $12,516.00 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) EVP Rhett D. Jordan sold 350 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $326,917.92. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SmartFinancial Stock Down 0.4 %

NASDAQ:SMBK traded down $0.13 during trading hours on Friday, reaching $35.12. 40,962 shares of the company traded hands, compared to its average volume of 52,648. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The business's 50-day moving average price is $33.21 and its two-hundred day moving average price is $31.16. SmartFinancial, Inc. has a 1 year low of $19.00 and a 1 year high of $37.72. The stock has a market capitalization of $594.49 million, a P/E ratio of 16.41 and a beta of 0.70.

SmartFinancial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, January 31st. SmartFinancial's payout ratio is 14.95%.

Institutional Trading of SmartFinancial

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

Analysts Set New Price Targets

SMBK has been the subject of a number of research analyst reports. Stephens cut SmartFinancial from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th. Raymond James reissued a "strong-buy" rating and set a $42.00 price objective (up previously from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Finally, Hovde Group upped their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a "market perform" rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $30.70.

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.