SmartFinancial’s (SMBK) “Equal Weight” Rating Reiterated at Stephens

Stephens reiterated their equal weight rating on shares of SmartFinancial (NASDAQ:SMBK) in a report released on Tuesday,Benzinga reports. Stephens currently has a $31.00 price objective on the bank’s stock.

Separately, Raymond James reissued a “strong-buy” rating and issued a $42.00 price objective (up previously from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.70.

SmartFinancial Stock Up 0.0 %

Shares of NASDAQ SMBK opened at $30.15 on Tuesday. The company has a market cap of $513.01 million, a price-to-earnings ratio of 14.09 and a beta of 0.59. 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 has a 12 month low of $20.39 and a 12 month high of $37.72. The stock has a 50-day moving average price of $31.11 and a two-hundred day moving average price of $32.66.

SmartFinancial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Friday, May 2nd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.32 annualized dividend and a yield of 1.06%. SmartFinancial’s dividend payout ratio is presently 14.16%.

Insider Buying and Selling at SmartFinancial

In related news, 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 cost of $34.75 per share, with a total value of $40,379.50. Following the completion of the purchase, the chairman now directly owns 96,938 shares in the company, valued at $3,368,595.50. The trade was a 1.21 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 7.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SMBK. Hillsdale Investment Management Inc. acquired a new position in SmartFinancial in the fourth quarter valued at $3,718,000. Wellington Management Group LLP raised its position in shares of SmartFinancial by 28.6% in the 4th quarter. Wellington Management Group LLP now owns 437,793 shares of the bank’s stock worth $13,563,000 after acquiring an additional 97,375 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SmartFinancial by 423.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 60,048 shares of the bank’s stock valued at $1,860,000 after purchasing an additional 48,576 shares during the period. Millennium Management LLC boosted its position in shares of SmartFinancial by 281.7% during the 4th quarter. Millennium Management LLC now owns 60,255 shares of the bank’s stock valued at $1,867,000 after purchasing an additional 44,467 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in SmartFinancial by 130.6% during the fourth quarter. JPMorgan Chase & Co. now owns 75,527 shares of the bank’s stock worth $2,340,000 after purchasing an additional 42,771 shares during the period. Institutional investors and hedge funds own 58.78% of the company’s stock.

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.