Rhett D. Jordan Sells 350 Shares of SmartFinancial, Inc. (NASDAQ:SMBK) Stock

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett D. Jordan sold 350 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $35.76, for a total value of $12,516.00. Following the completion of the transaction, the executive vice president now directly owns 9,142 shares of the company’s stock, valued at approximately $326,917.92. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SmartFinancial Price Performance

Shares of SMBK stock opened at $35.44 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $599.89 million, a PE ratio of 16.56 and a beta of 0.70. The firm’s 50-day moving average is $33.25 and its two-hundred day moving average is $31.01. SmartFinancial, Inc. has a 12 month low of $19.00 and a 12 month high of $37.72.

SmartFinancial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, January 31st. SmartFinancial’s payout ratio is presently 14.95%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank raised its position in SmartFinancial by 5,269.2% in the third quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,370 shares during the period. SG Americas Securities LLC acquired a new stake in shares of SmartFinancial during the 3rd quarter worth about $161,000. Geneos Wealth Management Inc. purchased a new stake in SmartFinancial in the 4th quarter valued at about $192,000. Welch Group LLC acquired a new position in SmartFinancial in the fourth quarter valued at about $202,000. Finally, Ridgepath Capital Management LLC purchased a new position in SmartFinancial during the fourth quarter worth about $202,000. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SMBK shares. Hovde Group increased their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research report on Wednesday, October 23rd. Stephens downgraded shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Finally, Raymond James restated a “strong-buy” rating and set a $42.00 target price (up from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.70.

About SmartFinancial

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.