Insider Selling: SmartFinancial (NASDAQ:SMBK) Director Sells $176,151.00 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Director Steven Tucker sold 3,550 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $49.62, for a total transaction of $176,151.00. Following the transaction, the director directly owned 43,672 shares of the company’s stock, valued at $2,167,004.64. This trade represents a 7.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

SmartFinancial Stock Down 0.7%

Shares of NASDAQ:SMBK opened at $47.61 on Friday. The company has a 50 day moving average price of $50.26 and a two-hundred day moving average price of $45.38. SmartFinancial, Inc. has a 52 week low of $34.50 and a 52 week 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 company has a market capitalization of $814.04 million, a PE ratio of 22.25 and a beta of 0.74.

SmartFinancial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. SmartFinancial’s dividend payout ratio is presently 9.78%.

Institutional Trading of SmartFinancial

Hedge funds have recently made changes to their positions in the stock. North Reef Capital Management LP increased its holdings in SmartFinancial by 1.6% in the 1st quarter. North Reef Capital Management LP now owns 137,088 shares of the bank’s stock worth $5,357,000 after acquiring an additional 2,217 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of SmartFinancial in the second quarter worth about $3,746,000. Bank of America Corp DE raised its position in shares of SmartFinancial by 147.6% in the 1st quarter. Bank of America Corp DE now owns 47,443 shares of the bank’s stock valued at $1,854,000 after buying an additional 28,280 shares in the last quarter. First Trust Advisors LP raised its position in SmartFinancial by 0.6% in the first quarter. First Trust Advisors LP now owns 46,590 shares of the bank’s stock worth $1,821,000 after acquiring an additional 280 shares during the period. Finally, NewEdge Advisors LLC grew its stake in SmartFinancial by 10.4% in the first quarter. NewEdge Advisors LLC now owns 29,429 shares of the bank’s stock worth $1,150,000 after purchasing an additional 2,778 shares during the period. 58.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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