Analysts Set SmartFinancial, Inc. (NASDAQ:SMBK) Price Target at $26.25

Shares of SmartFinancial, Inc. (NASDAQ:SMBK) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $25.40.

SMBK has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price objective on SmartFinancial from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Wednesday. Hovde Group reduced their price objective on SmartFinancial from $26.00 to $23.00 and set a “market perform” rating for the company in a research report on Wednesday. Piper Sandler raised SmartFinancial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $26.00 in a research report on Wednesday. StockNews.com raised SmartFinancial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Raymond James increased their price objective on SmartFinancial from $24.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th.

SmartFinancial Stock Down 0.9 %

Shares of SmartFinancial stock opened at $20.66 on Wednesday. The stock has a market capitalization of $352.46 million, a P/E ratio of 13.24 and a beta of 0.69. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average price of $20.73 and a two-hundred day moving average price of $21.92. SmartFinancial has a 12-month low of $18.86 and a 12-month high of $25.98.

SmartFinancial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.32 annualized dividend and a yield of 1.55%. SmartFinancial’s dividend payout ratio is currently 20.51%.

Insiders Place Their Bets

In other news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total value of $51,782.22. Following the completion of the sale, the executive vice president now directly owns 19,091 shares in the company, valued at $412,938.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of SmartFinancial

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in SmartFinancial in the third quarter worth about $159,000. Panagora Asset Management Inc. acquired a new stake in SmartFinancial in the third quarter worth about $758,000. Swiss National Bank increased its position in SmartFinancial by 2.6% in the third quarter. Swiss National Bank now owns 31,747 shares of the bank’s stock worth $678,000 after purchasing an additional 800 shares during the period. New York State Common Retirement Fund increased its position in SmartFinancial by 68.0% in the third quarter. New York State Common Retirement Fund now owns 7,430 shares of the bank’s stock worth $159,000 after purchasing an additional 3,008 shares during the period. Finally, Foundry Partners LLC increased its position in SmartFinancial by 44.9% in the fourth quarter. Foundry Partners LLC now owns 106,463 shares of the bank’s stock worth $2,607,000 after purchasing an additional 32,968 shares during the period. 58.78% of the stock is currently owned by institutional investors and hedge funds.

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.