SmartFinancial (NASDAQ:SMBK) PT Lowered to $24.00 at Keefe, Bruyette & Woods

SmartFinancial (NASDAQ:SMBK) had its price target trimmed by Keefe, Bruyette & Woods from $26.00 to $24.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

A number of other research firms have also weighed in on SMBK. StockNews.com upgraded shares of SmartFinancial from a sell rating to a hold rating in a report on Tuesday, January 9th. Hovde Group decreased their price objective on shares of SmartFinancial from $26.00 to $23.00 and set a market perform rating for the company in a research note on Wednesday. Stephens reiterated an overweight rating and issued a $26.00 price objective on shares of SmartFinancial in a research note on Tuesday. Raymond James increased their price objective on shares of SmartFinancial from $24.00 to $28.00 and gave the company a strong-buy rating in a research note on Friday, January 5th. Finally, Piper Sandler upgraded shares of 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 note on Wednesday. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $25.40.

SmartFinancial Trading Down 0.9 %

SMBK opened at $20.66 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.88 and a quick ratio of 0.88. SmartFinancial has a fifty-two week low of $18.86 and a fifty-two week high of $25.98. The firm has a market capitalization of $352.46 million, a PE ratio of 13.24 and a beta of 0.69. The company’s 50-day moving average is $20.73 and its 200 day moving average is $21.92.

SmartFinancial Dividend Announcement

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

Insider Activity

In other news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.63, for a total transaction of $51,782.22. Following the completion of the transaction, the executive vice president now directly owns 19,091 shares of the company’s stock, valued at approximately $412,938.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in SmartFinancial in the 3rd quarter worth approximately $159,000. Panagora Asset Management Inc. bought a new position in SmartFinancial in the 3rd quarter worth approximately $758,000. SlateStone Wealth LLC boosted its holdings in SmartFinancial by 54.2% in the 4th quarter. SlateStone Wealth LLC now owns 33,427 shares of the bank’s stock worth $819,000 after buying an additional 11,750 shares during the period. Swiss National Bank boosted its holdings in SmartFinancial by 2.6% in the 3rd quarter. Swiss National Bank now owns 31,747 shares of the bank’s stock worth $678,000 after buying an additional 800 shares during the period. Finally, Foundry Partners LLC boosted its holdings in SmartFinancial by 44.9% in the 4th quarter. Foundry Partners LLC now owns 106,463 shares of the bank’s stock worth $2,607,000 after buying an additional 32,968 shares during the period. 58.78% of the stock is owned by institutional investors.

About SmartFinancial

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.