Insider Buying: SmartFinancial, Inc. (NASDAQ:SMBK) Chairman Purchases $40,379.50 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Chairman Wesley Miller Welborn bought 1,162 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was bought at an average cost of $34.75 per share, for a total transaction of $40,379.50. Following the purchase, the chairman now directly owns 96,938 shares of the company’s stock, valued at approximately $3,368,595.50. This trade represents a 1.21 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

SmartFinancial Stock Performance

Shares of SMBK stock opened at $36.82 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. SmartFinancial, Inc. has a 52 week low of $19.00 and a 52 week high of $37.72. The company’s 50 day moving average price is $33.14 and its two-hundred day moving average price is $31.31. The company has a market capitalization of $623.13 million, a P/E ratio of 17.20 and a beta of 0.71.

SmartFinancial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, January 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. SmartFinancial’s payout ratio is 14.95%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On SmartFinancial

Several institutional investors have recently added to or reduced their stakes in SMBK. Huntington National Bank increased 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 purchasing an additional 1,370 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of SmartFinancial during the third quarter worth about $161,000. Geneos Wealth Management Inc. bought a new position in shares of SmartFinancial during the fourth quarter worth about $192,000. Ridgepath Capital Management LLC acquired a new stake in SmartFinancial in the 4th quarter valued at approximately $202,000. Finally, Welch Group LLC bought a new stake in SmartFinancial in the 4th quarter valued at approximately $202,000. 58.78% of the stock is owned by institutional investors.

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.