SmartFinancial, Inc. Declares Quarterly Dividend of $0.06 (NASDAQ:SMBK)


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SmartFinancial, Inc. (NASDAQ:SMBK) announced a quarterly dividend on Thursday, April 22nd, Zacks reports. Stockholders of record on Friday, May 7th will be given a dividend of 0.06 per share by the bank on Friday, May 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, May 6th.

SmartFinancial has a dividend payout ratio of 11.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SmartFinancial to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 16.9%.

Shares of NASDAQ SMBK opened at $23.90 on Tuesday. SmartFinancial has a 12-month low of $12.01 and a 12-month high of $24.69. The firm has a market cap of $361.01 million, a PE ratio of 15.93 and a beta of 0.81. The company’s fifty day simple moving average is $22.48 and its 200 day simple moving average is $19.61. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 1.03.

SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings data on Monday, April 19th. The bank reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.11. SmartFinancial had a net margin of 17.20% and a return on equity of 7.34%. On average, equities analysts predict that SmartFinancial will post 1.64 earnings per share for the current year.

Several analysts have recently commented on the stock. Raymond James upgraded shares of SmartFinancial from an “outperform” rating to a “strong-buy” rating and set a $27.00 target price for the company in a report on Wednesday, April 28th. TheStreet upgraded shares of SmartFinancial from a “c+” rating to a “b-” rating in a report on Wednesday, March 17th. Finally, Zacks Investment Research downgraded shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 27th.

About SmartFinancial

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, time deposits, and certificates of deposit.

Read More: Return on Investment (ROI)

Dividend History for SmartFinancial (NASDAQ:SMBK)

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