SmartFinancial (NASDAQ:SMBK) Shares Cross Above 50 Day Moving Average – What’s Next?

SmartFinancial, Inc. (NASDAQ:SMBK) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $49.72 and traded as high as $50.82. SmartFinancial shares last traded at $50.48, with a volume of 99,960 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SMBK. Keefe, Bruyette & Woods upped their price target on shares of SmartFinancial from $46.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, July 23rd. Benchmark lifted their price objective on SmartFinancial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Stephens boosted their price objective on SmartFinancial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $58.00 target price on shares of SmartFinancial in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.42.

SmartFinancial Stock Performance

The company has a market cap of $875.67 million, a PE ratio of 23.91 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average is $49.80 and its 200-day moving average is $44.16.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 31st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, July 31st. SmartFinancial’s dividend payout ratio (DPR) is currently 10.62%.

Insider Activity at SmartFinancial

In related news, Director Victor Lynn Barrett acquired 3,000 shares of SmartFinancial stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average price of $43.78 per share, for a total transaction of $131,340.00. Following the completion of the transaction, the director owned 151,724 shares in the company, valued at $6,642,476.72. This represents a 2.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cathy G. Ackermann acquired 3,000 shares of the stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $42.12 per share, for a total transaction of $126,360.00. Following the purchase, the director directly owned 19,831 shares of the company’s stock, valued at $835,281.72. The trade was a 17.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 6.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SmartFinancial

Hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC raised its position in SmartFinancial by 176.1% in the fourth quarter. Hsbc Holdings PLC now owns 22,325 shares of the bank’s stock valued at $825,000 after purchasing an additional 14,240 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of SmartFinancial during the 1st quarter worth $792,000. Bank of New York Mellon Corp grew its holdings in shares of SmartFinancial by 14.9% during the 1st quarter. Bank of New York Mellon Corp now owns 80,719 shares of the bank’s stock worth $3,154,000 after purchasing an additional 10,470 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of SmartFinancial during the 1st quarter worth about $708,000. Finally, Algebris UK Ltd. acquired a new stake in shares of SmartFinancial during the 4th quarter worth about $2,158,000. Hedge funds and other institutional investors own 58.78% of the company’s stock.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.