SmartFinancial (NASDAQ:SMBK) Shares Cross Below 50-Day Moving Average – What’s Next?

SmartFinancial, Inc. (NASDAQ:SMBK)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $40.97 and traded as low as $40.50. SmartFinancial shares last traded at $41.6050, with a volume of 37,993 shares.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their target price on SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $50.00 target price on shares of SmartFinancial in a report on Monday, April 20th. Finally, Zacks Research cut SmartFinancial from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.88.

SmartFinancial Trading Up 1.8%

The stock has a fifty day moving average of $40.97 and a 200-day moving average of $39.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $711.36 million, a PE ratio of 19.44 and a beta of 0.73.

SmartFinancial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, May 15th. This is an increase from SmartFinancial’s previous quarterly dividend of $0.08. SmartFinancial’s dividend payout ratio (DPR) is presently 11.54%.

Hedge Funds Weigh In On SmartFinancial

A number of large investors have recently bought and sold shares of SMBK. Equitable Trust Co. raised its position in SmartFinancial by 2.2% during the 1st quarter. Equitable Trust Co. now owns 11,475 shares of the bank’s stock valued at $448,000 after purchasing an additional 250 shares in the last quarter. First Trust Advisors LP raised its position in SmartFinancial by 0.6% during the 1st quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock valued at $1,821,000 after purchasing an additional 280 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of SmartFinancial by 13.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock worth $106,000 after acquiring an additional 316 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of SmartFinancial by 5.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,860 shares of the bank’s stock worth $217,000 after acquiring an additional 321 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of SmartFinancial by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank’s stock worth $295,000 after acquiring an additional 390 shares in the last quarter. Hedge funds and other institutional investors 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.