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

SmartFinancial, Inc. (NASDAQ:SMBK) announced a quarterly dividend on Monday, October 28th, NASDAQ reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.08 per share by the bank on Wednesday, November 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Tuesday, November 12th.

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

SmartFinancial Trading Up 0.4 %

SMBK traded up $0.12 during trading on Tuesday, hitting $33.18. The company’s stock had a trading volume of 46,438 shares, compared to its average volume of 45,792. SmartFinancial has a twelve month low of $19.00 and a twelve month high of $33.26. The stock has a market cap of $566.15 million, a PE ratio of 21.25 and a beta of 0.69. The firm’s 50 day moving average price is $29.35 and its 200-day moving average price is $25.66. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90.

SmartFinancial (NASDAQ:SMBK) last released its earnings results on Monday, October 21st. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. The firm had revenue of $73.10 million during the quarter, compared to analyst estimates of $42.32 million. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, analysts expect that SmartFinancial will post 1.97 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on SMBK. Hovde Group boosted their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a report on Wednesday, October 23rd. Raymond James upped their price objective on SmartFinancial from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 23rd. Piper Sandler downgraded SmartFinancial from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $26.00 to $28.00 in a research report on Wednesday, July 24th. Finally, Stephens restated an “overweight” rating and issued a $27.00 price objective on shares of SmartFinancial in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

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.