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

SmartFinancial, Inc. (NASDAQ:SMBK) declared a quarterly dividend on Thursday, April 25th, NASDAQ reports. Investors of record on Friday, May 10th will be paid a dividend of 0.08 per share by the bank on Tuesday, May 28th. This represents a $0.32 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, May 9th.

SmartFinancial has increased its dividend by an average of 17.0% annually over the last three years and has raised its dividend every year for the last 3 years. SmartFinancial has a dividend payout ratio of 14.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect SmartFinancial to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.9%.

SmartFinancial Price Performance

Shares of SmartFinancial stock opened at $22.23 on Tuesday. SmartFinancial has a one year low of $19.00 and a one year high of $25.98. The stock’s fifty day moving average is $20.66 and its 200 day moving average is $21.94. The stock has a market cap of $379.24 million, a P/E ratio of 11.96 and a beta of 0.68. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 0.88.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Hovde Group decreased their target price on SmartFinancial from $26.00 to $23.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Keefe, Bruyette & Woods cut their price target on SmartFinancial from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Piper Sandler upgraded SmartFinancial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $25.00 to $26.00 in a research note on Wednesday, April 24th. StockNews.com upgraded SmartFinancial from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Stephens reiterated an “overweight” rating and issued a $26.00 price target on shares of SmartFinancial in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.40.

Insider Activity

In other news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 19,091 shares in the company, valued at $412,938.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.68% 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.