SmartFinancial, Inc. Declares Quarterly Dividend of $0.08 (NASDAQ:SMBK)

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) announced a quarterly dividend on Tuesday, April 22nd, Wall Street Journal reports. Shareholders of record on Friday, May 2nd will be paid a dividend of 0.08 per share by the bank on Monday, May 19th. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, May 2nd.

SmartFinancial has increased its dividend by an average of 17.0% per year over the last three years.

SmartFinancial Stock Down 0.8 %

Shares of SMBK stock traded down $0.24 during mid-day trading on Friday, hitting $30.01. The stock had a trading volume of 10,093 shares, compared to its average volume of 53,018. 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 firm's 50-day moving average is $31.11 and its two-hundred day moving average is $32.66. The firm has a market capitalization of $510.78 million, a P/E ratio of 14.02 and a beta of 0.59. SmartFinancial has a 12-month low of $20.39 and a 12-month high of $37.72.

Insider Activity at SmartFinancial

In other SmartFinancial news, Chairman Wesley Miller Welborn bought 1,162 shares of SmartFinancial stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average cost of $34.75 per share, with a total value of $40,379.50. Following the transaction, the chairman now directly owns 96,938 shares of the company's stock, valued at approximately $3,368,595.50. This represents a 1.21 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SMBK has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their target price on shares of SmartFinancial from $37.00 to $35.00 and set a "market perform" rating on the stock in a research report on Thursday. Stephens reissued an "equal weight" rating and set a $31.00 price objective on shares of SmartFinancial in a report on Tuesday. Finally, Raymond James reissued a "strong-buy" rating and issued a $42.00 price objective (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.com, SmartFinancial presently has a consensus rating of "Hold" and an average price target of $33.70.

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.