SmartFinancial, Inc. (NASDAQ:SMBK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have been given a consensus rating of “Hold” by the six analysts that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $39.10.

A number of research analysts recently weighed in on SMBK shares. Keefe, Bruyette & Woods upped their price target on SmartFinancial from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 4th. Piper Sandler boosted their price objective on SmartFinancial from $37.00 to $39.50 and gave the company a “neutral” rating in a report on Monday, October 27th. Hovde Group upped their target price on SmartFinancial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, Zacks Research cut SmartFinancial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th.

SmartFinancial Price Performance

Shares of NASDAQ SMBK opened at $37.76 on Friday. The firm has a market capitalization of $642.98 million, a P/E ratio of 17.64 and a beta of 0.75. The firm’s 50-day moving average price is $36.97 and its 200-day moving average price is $35.97. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial has a 1-year low of $26.31 and a 1-year high of $40.08.

SmartFinancial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. SmartFinancial’s dividend payout ratio (DPR) is 11.68%.

Insider Activity

In other news, Director Steven B. Tucker sold 10,625 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $38.01, for a total transaction of $403,856.25. Following the completion of the sale, the director directly owned 49,914 shares of the company’s stock, valued at $1,897,231.14. The trade was a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SmartFinancial

A number of hedge funds have recently added to or reduced their stakes in the stock. Tripletail Wealth Management LLC bought a new stake in SmartFinancial during the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC boosted its position in shares of SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after buying an additional 472 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in SmartFinancial by 173.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock worth $64,000 after buying an additional 1,202 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in SmartFinancial by 24.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,243 shares of the bank’s stock worth $76,000 after buying an additional 438 shares in the last quarter. Finally, CWM LLC raised its position in SmartFinancial by 27.7% in the 3rd quarter. CWM LLC now owns 3,160 shares of the bank’s stock valued at $113,000 after buying an additional 685 shares during the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.