SmartFinancial, Inc. (SMBK) to Issue Quarterly Dividend of $0.08 on May 28th

SmartFinancial, Inc. (NASDAQ:SMBK) announced a quarterly dividend on Thursday, April 25th, NASDAQ reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.08 per share by the bank on Tuesday, May 28th. 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 has a dividend payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of SMBK stock opened at $20.66 on Friday. The stock has a 50 day moving average of $20.73 and a two-hundred day moving average of $21.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. SmartFinancial has a 12 month low of $18.86 and a 12 month high of $25.98. The company has a market capitalization of $352.46 million, a P/E ratio of 11.27 and a beta of 0.69.

Wall Street Analysts Forecast Growth

SMBK has been the subject of a number of research reports. Piper Sandler upgraded SmartFinancial from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $26.00 in a research report on Wednesday. Keefe, Bruyette & Woods cut their target price on SmartFinancial from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Wednesday. StockNews.com upgraded SmartFinancial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Raymond James raised their target price on SmartFinancial from $24.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Finally, Hovde Group cut their target price on SmartFinancial from $26.00 to $23.00 and set a “market perform” rating for the company in a research report on Wednesday. Three equities research 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 currently has a consensus rating of “Moderate Buy” and an average target price of $25.40.

Insider Buying and Selling at SmartFinancial

In other SmartFinancial news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of SmartFinancial stock in a transaction on Tuesday, March 5th. The stock was 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 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 the SEC website. Corporate insiders own 7.80% 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.