SmartFinancial (NASDAQ:SMBK) Given Overweight Rating at Stephens

Stephens restated their overweight rating on shares of SmartFinancial (NASDAQ:SMBK) in a report published on Tuesday, Benzinga reports. The firm currently has a $26.00 price target on the bank’s stock.

SMBK has been the subject of several other research reports. Keefe, Bruyette & Woods upped their price target on SmartFinancial from $25.00 to $26.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th. StockNews.com upgraded SmartFinancial from a sell rating to a hold rating in a research note on Tuesday, January 9th. Finally, Raymond James upped their price target on SmartFinancial from $24.00 to $28.00 and gave the stock a strong-buy rating in a research note on Friday, January 5th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $25.40.

SmartFinancial Stock Performance

SMBK opened at $20.66 on Tuesday. The company has a market cap of $352.46 million, a PE ratio of 13.24 and a beta of 0.69. The stock has a 50-day moving average of $20.73 and a 200-day moving average of $21.92. SmartFinancial has a 52-week low of $18.86 and a 52-week high of $25.98. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 0.88.

SmartFinancial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.32 annualized dividend and a yield of 1.55%. SmartFinancial’s payout ratio is 20.51%.

Insider Activity at SmartFinancial

In related news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total transaction of $51,782.22. Following the completion of the sale, the executive vice president now owns 19,091 shares in the company, valued at approximately $412,938.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SmartFinancial

Several large investors have recently added to or reduced their stakes in the company. SlateStone Wealth LLC raised its holdings in SmartFinancial by 1.5% in the 1st quarter. SlateStone Wealth LLC now owns 33,927 shares of the bank’s stock valued at $715,000 after acquiring an additional 500 shares in the last quarter. Swiss National Bank raised its holdings in SmartFinancial by 2.6% in the 3rd quarter. Swiss National Bank now owns 31,747 shares of the bank’s stock valued at $678,000 after acquiring an additional 800 shares in the last quarter. Equitable Trust Co. raised its holdings in SmartFinancial by 7.1% in the 4th quarter. Equitable Trust Co. now owns 16,525 shares of the bank’s stock valued at $405,000 after acquiring an additional 1,100 shares in the last quarter. SG Americas Securities LLC raised its holdings in SmartFinancial by 19.8% in the 4th quarter. SG Americas Securities LLC now owns 8,916 shares of the bank’s stock valued at $218,000 after acquiring an additional 1,474 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in SmartFinancial by 11.2% in the 4th quarter. Victory Capital Management Inc. now owns 23,300 shares of the bank’s stock valued at $571,000 after acquiring an additional 2,350 shares in the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

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.