SmartFinancial (NASDAQ:SMBK) Stock Passes Below 50 Day Moving Average – Time to Sell?

SmartFinancial, Inc. (NASDAQ:SMBK) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $40.97 and traded as low as $40.50. SmartFinancial shares last traded at $41.6050, with a volume of 37,993 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SMBK. Zacks Research lowered SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Keefe, Bruyette & Woods lifted their price target on SmartFinancial from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Tuesday, April 21st. Finally, Raymond James Financial restated a “strong-buy” rating and set a $50.00 price target on shares of SmartFinancial in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.88.

SmartFinancial Stock Performance

The stock has a market capitalization of $695.20 million, a P/E ratio of 19.00 and a beta of 0.73. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average price of $41.09 and a 200-day moving average price of $39.57.

SmartFinancial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from SmartFinancial’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. SmartFinancial’s dividend payout ratio is currently 11.54%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SMBK. First Eagle Investment Management LLC lifted its holdings in shares of SmartFinancial by 375.5% during the fourth quarter. First Eagle Investment Management LLC now owns 152,167 shares of the bank’s stock valued at $5,629,000 after purchasing an additional 120,167 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of SmartFinancial by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 728,151 shares of the bank’s stock valued at $26,934,000 after purchasing an additional 80,639 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of SmartFinancial by 55.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 163,240 shares of the bank’s stock valued at $6,038,000 after purchasing an additional 58,560 shares in the last quarter. Algebris UK Ltd. bought a new position in shares of SmartFinancial during the fourth quarter valued at $2,158,000. Finally, North Reef Capital Management LP lifted its holdings in shares of SmartFinancial by 59.5% during the fourth quarter. North Reef Capital Management LP now owns 134,871 shares of the bank’s stock valued at $4,989,000 after purchasing an additional 50,301 shares in the last quarter. 58.78% of the stock is owned by 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.