SmartFinancial (NASDAQ:SMBK) Price Target Raised to $50.00 at Keefe, Bruyette & Woods

SmartFinancial (NASDAQ:SMBK) had its target price hoisted by Keefe, Bruyette & Woods from $46.00 to $50.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

Other research analysts have also recently issued research reports about the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $58.00 price target on shares of SmartFinancial in a report on Wednesday. Benchmark lifted their price objective on shares of SmartFinancial from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research 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 stock. According to data from MarketBeat, SmartFinancial presently has an average rating of “Moderate Buy” and a consensus price target of $49.75.

SmartFinancial Stock Performance

Shares of SmartFinancial stock opened at $48.92 on Thursday. The company has a 50 day moving average price of $44.74 and a 200 day moving average price of $41.82. The firm has a market capitalization of $836.45 million, a P/E ratio of 22.86 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial has a 52 week low of $32.63 and a 52 week high of $49.66.

SmartFinancial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, July 31st. SmartFinancial’s dividend payout ratio (DPR) is presently 11.54%.

Insider Transactions at SmartFinancial

In other SmartFinancial news, Director Victor Lynn Barrett purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were bought at an average price of $43.78 per share, for a total transaction of $131,340.00. Following the acquisition, the director owned 151,724 shares in the company, valued at $6,642,476.72. This represents a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Cathy G. Ackermann purchased 3,000 shares of SmartFinancial stock in a transaction on Thursday, June 4th. The shares were acquired at an average cost of $42.12 per share, with a total value of $126,360.00. Following the completion of the transaction, the director directly owned 19,831 shares in the company, valued at $835,281.72. The trade was a 17.82% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 6,290 shares of company stock valued at $269,677 in the last ninety days. Corporate insiders own 6.93% of the company’s stock.

Institutional Trading of SmartFinancial

Large investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new position in shares of SmartFinancial during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock valued at $51,000 after purchasing an additional 472 shares during the period. Tower Research Capital LLC TRC boosted its holdings in SmartFinancial by 173.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock valued at $64,000 after purchasing an additional 1,202 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in SmartFinancial by 209.1% in the fourth quarter. State of Alaska Department of Revenue now owns 2,105 shares of the bank’s stock valued at $77,000 after purchasing an additional 1,424 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in SmartFinancial by 13.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock worth $106,000 after purchasing an additional 316 shares during the period. 58.78% of the stock is owned by hedge funds and other institutional investors.

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.