SmartFinancial, Inc. (SMBK) To Go Ex-Dividend on May 9th

SmartFinancial, Inc. (NASDAQ:SMBK) announced a quarterly dividend on Thursday, April 25th, NASDAQ reports. Investors of record on Friday, May 10th will be given a dividend of 0.08 per share by the bank on Tuesday, May 28th. This represents a $0.32 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, May 9th.

SmartFinancial has raised its dividend by an average of 17.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. SmartFinancial has a dividend payout ratio of 14.7% meaning its dividend is sufficiently covered by earnings. Analysts expect SmartFinancial to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.9%.

SmartFinancial Stock Performance

SMBK opened at $22.23 on Tuesday. The business has a fifty day simple moving average of $20.66 and a 200 day simple moving average of $21.94. The company has a market capitalization of $379.24 million, a PE ratio of 11.96 and a beta of 0.68. SmartFinancial has a 1 year low of $19.00 and a 1 year high of $25.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.88 and a quick ratio of 0.88.

Insider Transactions at SmartFinancial

In other news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total transaction of $51,782.22. Following the completion of the transaction, the executive vice president now owns 19,091 shares of the company’s stock, valued at approximately $412,938.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.68% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Hovde Group reduced their price target on SmartFinancial from $26.00 to $23.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. StockNews.com raised SmartFinancial from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods dropped their price objective on SmartFinancial from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Piper Sandler raised SmartFinancial from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $26.00 in a report on Wednesday, April 24th. Finally, Stephens reaffirmed an “overweight” rating and issued a $26.00 price objective on shares of SmartFinancial in a report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, SmartFinancial has an average rating of “Moderate Buy” and a consensus price target of $25.40.

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.