SmartFinancial (NASDAQ:SMBK) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

SmartFinancial, Inc. (NASDAQ:SMBK)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $33.62 and traded as high as $33.67. SmartFinancial shares last traded at $32.32, with a volume of 38,258 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SMBK. Raymond James reissued a “strong-buy” rating and issued a $42.00 target price (up previously from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Stephens downgraded SmartFinancial from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SmartFinancial presently has an average rating of “Hold” and an average price target of $30.70.

SmartFinancial Stock Performance

The business’s 50 day simple moving average is $33.62 and its two-hundred day simple moving average is $32.43. The firm has a market capitalization of $547.05 million, a PE ratio of 15.10 and a beta of 0.71. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.32 annualized dividend and a yield of 0.99%. SmartFinancial’s payout ratio is 14.95%.

Insider Activity

In other news, Director John M. Presley sold 6,916 shares of the firm’s stock in a transaction dated 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 trade 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 available through this hyperlink. Also, Chairman Wesley Miller Welborn acquired 1,162 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average price of $34.75 per share, with a total value of $40,379.50. Following the completion of the purchase, the chairman now owns 96,938 shares in the company, valued at $3,368,595.50. This trade represents a 1.21 % increase in their position. The disclosure for this purchase can be found here. Insiders own 7.68% of the company’s stock.

Hedge Funds Weigh In On SmartFinancial

Several large investors have recently added to or reduced their stakes in SMBK. Virtus Investment Advisers Inc. bought a new stake in shares of SmartFinancial during the 4th quarter valued at $124,000. Squarepoint Ops LLC purchased a new stake in shares of SmartFinancial during the fourth quarter worth about $277,000. Two Sigma Advisers LP lifted its holdings in SmartFinancial by 22.2% in the 4th quarter. Two Sigma Advisers LP now owns 20,400 shares of the bank’s stock worth $632,000 after purchasing an additional 3,700 shares in the last quarter. Two Sigma Investments LP grew its holdings in SmartFinancial by 91.8% during the 4th quarter. Two Sigma Investments LP now owns 30,938 shares of the bank’s stock valued at $958,000 after buying an additional 14,810 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of SmartFinancial by 281.7% in the fourth quarter. Millennium Management LLC now owns 60,255 shares of the bank’s stock worth $1,867,000 after buying an additional 44,467 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

About SmartFinancial

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.