Insider Buying: SmartFinancial, Inc. (NASDAQ:SMBK) Director Buys 2,500 Shares of Stock

SmartFinancial, Inc. (NASDAQ:SMBK – Get Rating) Director Geoffrey Alan Wolpert acquired 2,500 shares of SmartFinancial stock in a transaction on Friday, May 12th. The stock was purchased at an average price of $20.01 per share, with a total value of $50,025.00. Following the purchase, the director now owns 93,926 shares of the company’s stock, valued at approximately $1,879,459.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SmartFinancial Price Performance

SMBK opened at $20.08 on Tuesday. The stock has a market capitalization of $341.44 million, a PE ratio of 7.33 and a beta of 0.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. SmartFinancial, Inc. has a 1 year low of $18.86 and a 1 year high of $30.50. The company’s 50 day simple moving average is $22.31 and its 200 day simple moving average is $26.00.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 29th. Investors of record on Friday, May 12th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.59%. SmartFinancial’s dividend payout ratio (DPR) is presently 11.68%.

Institutional Trading of SmartFinancial

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its holdings in shares of SmartFinancial by 22.7% during the second quarter. BNP Paribas Arbitrage SA now owns 3,924 shares of the bank’s stock valued at $95,000 after acquiring an additional 725 shares during the period. HHM Wealth Advisors LLC boosted its holdings in shares of SmartFinancial by 15.9% during the first quarter. HHM Wealth Advisors LLC now owns 5,529 shares of the bank’s stock valued at $128,000 after acquiring an additional 760 shares during the period. BNP Paribas Arbitrage SNC boosted its holdings in shares of SmartFinancial by 37.6% during the third quarter. BNP Paribas Arbitrage SNC now owns 5,401 shares of the bank’s stock valued at $133,000 after acquiring an additional 1,477 shares during the period. Legal & General Group Plc boosted its holdings in shares of SmartFinancial by 256.2% during the fourth quarter. Legal & General Group Plc now owns 5,239 shares of the bank’s stock valued at $144,000 after acquiring an additional 3,768 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of SmartFinancial by 5.7% during the second quarter. American International Group Inc. now owns 7,262 shares of the bank’s stock valued at $175,000 after acquiring an additional 389 shares during the period. Institutional investors own 44.79% of the company’s stock.

Analyst Ratings Changes

SMBK has been the subject of several recent research reports. Janney Montgomery Scott downgraded shares of SmartFinancial from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a report on Wednesday, January 25th. StockNews.com downgraded shares of SmartFinancial from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Keefe, Bruyette & Woods dropped their target price on shares of SmartFinancial from $28.00 to $25.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. Raymond James began coverage on shares of SmartFinancial in a report on Friday, March 3rd. They set a “market perform” rating for the company. Finally, Piper Sandler downgraded shares of SmartFinancial from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $34.00 to $28.00 in a report on Tuesday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.14.

SmartFinancial Company Profile

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SmartFinancial, Inc is a holding company, which engages in the provision of commercial banking services through SmartBank. It operates through the following portfolio segments: Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, and Consumer and Other.