SmartFinancial (NASDAQ:SMBK) Director Kelli Shomaker Acquires 255 Shares

SmartFinancial, Inc. (NASDAQ:SMBK) Director Kelli Shomaker acquired 255 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was purchased at an average cost of $39.38 per share, with a total value of $10,041.90. Following the acquisition, the director directly owned 1,022 shares of the company’s stock, valued at $40,246.36. This trade represents a 33.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SmartFinancial Trading Down 1.0%

SMBK stock traded down $0.39 during trading on Wednesday, reaching $39.06. 14,805 shares of the stock were exchanged, compared to its average volume of 72,765. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $665.11 million, a price-to-earnings ratio of 18.29 and a beta of 0.75. The business has a 50 day moving average price of $37.88 and a 200-day moving average price of $36.38. SmartFinancial, Inc. has a 1 year low of $26.31 and a 1 year high of $42.96.

SmartFinancial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Monday, November 17th were issued a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. SmartFinancial’s dividend payout ratio is currently 10.74%.

Hedge Funds Weigh In On SmartFinancial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of SmartFinancial by 18.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,836 shares of the bank’s stock worth $3,508,000 after buying an additional 16,202 shares in the last quarter. Bailard Inc. lifted its stake in SmartFinancial by 58.7% in the second quarter. Bailard Inc. now owns 19,700 shares of the bank’s stock worth $665,000 after acquiring an additional 7,285 shares during the last quarter. CSM Advisors LLC purchased a new position in SmartFinancial in the second quarter worth approximately $5,996,000. Los Angeles Capital Management LLC grew its holdings in SmartFinancial by 129.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 47,633 shares of the bank’s stock worth $1,609,000 after acquiring an additional 26,855 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of SmartFinancial by 1.4% in the 2nd quarter. Acadian Asset Management LLC now owns 158,723 shares of the bank’s stock valued at $5,360,000 after purchasing an additional 2,132 shares during the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SMBK shares. Piper Sandler raised their target price on SmartFinancial from $37.00 to $39.50 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Keefe, Bruyette & Woods increased their price target on SmartFinancial from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, November 4th. Zacks Research lowered shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Finally, Hovde Group raised shares of SmartFinancial from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.50.

About SmartFinancial

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.