SmartFinancial (NASDAQ:SMBK) Stock: Insider Steven Tucker Sells 3,500 Shares

SmartFinancial, Inc. (NASDAQ:SMBK) Director Steven Tucker sold 3,500 shares of SmartFinancial stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $49.50, for a total value of $173,250.00. Following the transaction, the director owned 47,222 shares of the company’s stock, valued at $2,337,489. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

SmartFinancial Price Performance

SMBK stock opened at $48.52 on Wednesday. SmartFinancial, Inc. has a 1 year low of $34.22 and a 1 year high of $54.14. 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 stock’s 50 day moving average price is $50.65 and its 200 day moving average price is $44.97. The firm has a market cap of $829.63 million, a P/E ratio of 22.67 and a beta of 0.71.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SMBK. Rosenthal Henry Capital Advisors Inc. purchased a new stake in shares of SmartFinancial in the third quarter valued at $1,053,000. Sage Investment Counsel LLC acquired a new position in SmartFinancial in the third quarter valued at $206,000. USA Financial Formulas acquired a new position in SmartFinancial in the third quarter valued at $48,000. Fortitude Family Office LLC increased its stake in SmartFinancial by 3,096.3% in the third quarter. Fortitude Family Office LLC now owns 863 shares of the bank’s stock valued at $43,000 after purchasing an additional 836 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in SmartFinancial by 1,374.1% during the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank’s stock worth $42,000 after buying an additional 797 shares during the period. 58.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Stephens upped their price objective on SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their price objective on SmartFinancial from $51.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 21st. Raymond James Financial cut SmartFinancial from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $58.00 to $56.00 in a research report on Wednesday, October 21st. Finally, Benchmark boosted their target price on shares of SmartFinancial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.60.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank’s products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.