John M. Presley Sells 6,916 Shares of SmartFinancial, Inc. (NASDAQ:SMBK) Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Director John M. Presley sold 6,916 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $35.05, for a total value of $242,405.80. Following the transaction, the director now owns 3,960 shares of the company’s stock, valued at $138,798. This represents a 63.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SmartFinancial Trading Up 0.5 %

Shares of NASDAQ:SMBK traded up $0.19 during mid-day trading on Tuesday, reaching $35.12. The stock had a trading volume of 54,495 shares, compared to its average volume of 47,138. 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 cap of $594.58 million, a PE ratio of 18.01 and a beta of 0.68. The firm has a 50 day simple moving average of $33.31 and a two-hundred day simple moving average of $28.63. SmartFinancial, Inc. has a twelve month low of $19.00 and a twelve month high of $37.72.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The business had revenue of $73.10 million during the quarter, compared to analysts’ expectations of $42.32 million. SmartFinancial had a return on equity of 6.81% and a net margin of 11.88%. During the same quarter last year, the company posted $0.43 earnings per share. On average, research analysts predict that SmartFinancial, Inc. will post 2.02 EPS for the current fiscal year.

SmartFinancial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Tuesday, November 12th. SmartFinancial’s payout ratio is 16.49%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SMBK. Huntington National Bank grew its holdings in SmartFinancial by 5,269.2% during the 3rd quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock worth $41,000 after acquiring an additional 1,370 shares during the period. SG Americas Securities LLC acquired a new stake in SmartFinancial in the 3rd quarter valued at $161,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of SmartFinancial in the 3rd quarter worth about $226,000. CAP Partners LLC bought a new position in shares of SmartFinancial in the third quarter valued at approximately $230,000. Finally, XTX Topco Ltd bought a new position in SmartFinancial during the 3rd quarter valued at $272,000. 58.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

SMBK has been the subject of a number of recent analyst reports. Raymond James raised their price target on SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 23rd. Hovde Group raised their target price on SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research note on Wednesday, October 23rd. Finally, Stephens downgraded shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, SmartFinancial has a consensus rating of “Hold” and an average target price of $29.50.

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.