SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $34.23 and traded as low as $31.03. SmartFinancial shares last traded at $31.58, with a volume of 28,992 shares changing hands.
Wall Street Analyst Weigh In
SMBK has been the topic of several research reports. Stephens cut shares of SmartFinancial from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 9th. Raymond James upped their target price on shares of SmartFinancial from $32.00 to $36.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, October 23rd. Finally, Hovde Group raised their price target on shares of SmartFinancial from $28.00 to $32.50 and gave the company a "market perform" rating in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $29.50.
Read Our Latest Analysis on SMBK
SmartFinancial Price Performance
The stock's 50 day moving average is $34.24 and its two-hundred day moving average is $29.45. The stock has a market capitalization of $525.55 million, a PE ratio of 16.01 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90.
SmartFinancial (NASDAQ:SMBK - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. The company had revenue of $73.10 million during the quarter, compared to analysts' expectations of $42.32 million. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. During the same quarter in the previous year, the business posted $0.43 EPS. As a group, sell-side analysts forecast that SmartFinancial, Inc. will post 2.02 earnings per share for the current fiscal year.
SmartFinancial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.03%. The ex-dividend date was Tuesday, November 12th. SmartFinancial's payout ratio is 16.49%.
Insider Activity at SmartFinancial
In other news, Director John M. Presley sold 6,916 shares of SmartFinancial stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $35.05, for a total transaction of $242,405.80. Following the sale, the director now owns 3,960 shares in the company, valued at approximately $138,798. The trade was a 63.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 7,516 shares of company stock valued at $262,600 over the last three months. 7.68% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank grew its position in SmartFinancial by 5,269.2% during the 3rd quarter. Huntington National Bank now owns 1,396 shares of the bank's stock worth $41,000 after purchasing an additional 1,370 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of SmartFinancial during the third quarter worth about $161,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of SmartFinancial during the third quarter worth about $226,000. CAP Partners LLC acquired a new position in SmartFinancial in the 3rd quarter valued at about $230,000. Finally, XTX Topco Ltd purchased a new stake in SmartFinancial during the 3rd quarter valued at approximately $272,000. Hedge funds and other institutional investors own 58.78% of the company's stock.
About SmartFinancial
(
Get Free Report)
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.
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