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

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett D. Jordan sold 350 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $35.76, for a total transaction of $12,516.00. Following the completion of the sale, the executive vice president now owns 9,142 shares of the company’s stock, valued at approximately $326,917.92. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

SmartFinancial Stock Performance

NASDAQ:SMBK opened at $35.12 on Friday. The company has a market capitalization of $594.63 million, a P/E ratio of 16.41 and a beta of 0.70. The business has a fifty day simple moving average of $33.21 and a two-hundred day simple moving average of $31.11. 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, Inc. has a 1 year low of $19.00 and a 1 year high of $37.72.

SmartFinancial Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, January 31st. SmartFinancial’s dividend payout ratio is currently 14.95%.

Institutional Investors Weigh In On SmartFinancial

Several institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank raised its position in shares of SmartFinancial by 5,269.2% in the third quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,370 shares during the period. SG Americas Securities LLC purchased a new position in SmartFinancial in the 3rd quarter valued at approximately $161,000. Geneos Wealth Management Inc. bought a new stake in SmartFinancial during the 4th quarter valued at $192,000. Ridgepath Capital Management LLC purchased a new stake in shares of SmartFinancial during the fourth quarter worth $202,000. Finally, Welch Group LLC bought a new position in shares of SmartFinancial in the fourth quarter worth $202,000. 58.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.