SmartFinancial, Inc. (NASDAQ:SMBK) Announces Quarterly Dividend of $0.08

SmartFinancial, Inc. (NASDAQ:SMBK) announced a quarterly dividend on Thursday, April 25th, NASDAQ reports. Investors of record on Friday, May 10th will be given a dividend of 0.08 per share by the bank on Tuesday, May 28th. This represents a $0.32 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, May 9th.

SmartFinancial has increased its dividend payment by an average of 17.0% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. SmartFinancial has a payout ratio of 14.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SmartFinancial to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.9%.

SmartFinancial Trading Down 0.8 %

Shares of SMBK stock opened at $22.05 on Wednesday. The stock has a 50-day simple moving average of $20.67 and a 200 day simple moving average of $21.95. The stock has a market capitalization of $376.17 million, a P/E ratio of 14.13 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.12. SmartFinancial has a fifty-two week low of $19.00 and a fifty-two week high of $25.98.

Insider Buying and Selling

In other SmartFinancial news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.63, for a total value of $51,782.22. Following the completion of the transaction, the executive vice president now directly owns 19,091 shares in the company, valued at approximately $412,938.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 7.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stephens reiterated an “overweight” rating and set a $26.00 price objective on shares of SmartFinancial in a report on Tuesday, April 23rd. Hovde Group cut their target price on shares of SmartFinancial from $26.00 to $23.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods dropped their price objective on shares of SmartFinancial from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Piper Sandler raised SmartFinancial from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $25.00 to $26.00 in a research note on Wednesday, April 24th. Finally, StockNews.com raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.40.

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.