SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) Director John M. Presley sold 6,916 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $35.05, for a total transaction of $242,405.80. Following the completion of the transaction, the director now owns 3,960 shares in the company, valued at $138,798. The trade was a 63.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
SmartFinancial Price Performance
SMBK opened at $35.12 on Wednesday. SmartFinancial, Inc. has a twelve month low of $19.00 and a twelve month high of $37.72. The firm has a market cap of $594.58 million, a price-to-earnings ratio of 18.10 and a beta of 0.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $33.45 and a 200 day simple moving average of $28.71.
SmartFinancial (NASDAQ:SMBK - Get Free Report) last announced its earnings results on Monday, October 21st. The bank reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. SmartFinancial had a return on equity of 6.81% and a net margin of 11.88%. The company had revenue of $73.10 million during the quarter, compared to the consensus estimate of $42.32 million. During the same period last year, the firm earned $0.43 earnings per share. Equities research analysts expect that SmartFinancial, Inc. will post 2.02 EPS for the current fiscal year.
SmartFinancial Dividend Announcement
Nvidia’s Bold Move: Tackling Tech’s $1 Trillion Crisis
From Weiss Ratings | Ad
Taiwan Semiconductor, a partner of Nvidia’s for more than two decades, has seen its shares explode as much as 4,744%.
Now, if you’re like everybody else, you want to know what Nvidia’s doing next … and who they’re going to partner with …
Find out details on these three critical Nvidia partners immediately.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.32 annualized dividend and a yield of 0.91%. SmartFinancial's dividend payout ratio is presently 16.49%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Raymond James raised their target price on shares of SmartFinancial from $32.00 to $36.00 and gave the company a "strong-buy" rating in a research note on Wednesday, October 23rd. Stephens cut SmartFinancial from an "overweight" rating to an "equal weight" rating in a research note on Monday. Finally, Hovde Group upped their target price on SmartFinancial from $28.00 to $32.50 and gave the stock a "market perform" rating in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $29.50.
View Our Latest Analysis on SmartFinancial
Hedge Funds Weigh In On SmartFinancial
Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its position in shares of SmartFinancial by 1.5% during the second quarter. Rhumbline Advisers now owns 24,147 shares of the bank's stock worth $572,000 after buying an additional 361 shares in the last quarter. Jane Street Group LLC grew its holdings in SmartFinancial by 6.9% during the 3rd quarter. Jane Street Group LLC now owns 14,925 shares of the bank's stock worth $435,000 after acquiring an additional 967 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SmartFinancial by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 335,501 shares of the bank's stock valued at $9,779,000 after purchasing an additional 1,307 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of SmartFinancial by 4.4% during the third quarter. Victory Capital Management Inc. now owns 31,849 shares of the bank's stock worth $928,000 after purchasing an additional 1,349 shares during the last quarter. Finally, Huntington National Bank grew its stake in SmartFinancial by 5,269.2% in the third quarter. Huntington National Bank now owns 1,396 shares of the bank's stock worth $41,000 after purchasing an additional 1,370 shares in the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.
About SmartFinancial
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
