Insider Selling: SmartFinancial (NASDAQ:SMBK) EVP Sells $18,000.00 in Stock

SmartFinancial, Inc. (NASDAQ:SMBK) EVP Rhett Jordan sold 400 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $18,000.00. Following the completion of the transaction, the executive vice president directly owned 11,802 shares in the company, valued at approximately $531,090. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

SmartFinancial Price Performance

Shares of SMBK stock opened at $45.46 on Monday. SmartFinancial, Inc. has a 52-week low of $30.95 and a 52-week high of $45.63. The stock has a market cap of $777.34 million, a PE ratio of 21.24 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average price is $41.77 and its two-hundred day moving average price is $39.99.

SmartFinancial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is a boost from SmartFinancial’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. SmartFinancial’s payout ratio is 11.54%.

Hedge Funds Weigh In On SmartFinancial

A number of hedge funds and other institutional investors have recently made changes to their positions in SMBK. AQR Capital Management LLC boosted its position in shares of SmartFinancial by 150.9% during the first quarter. AQR Capital Management LLC now owns 51,972 shares of the bank’s stock worth $1,615,000 after purchasing an additional 31,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SmartFinancial by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank’s stock worth $295,000 after purchasing an additional 390 shares in the last quarter. Jane Street Group LLC boosted its position in shares of SmartFinancial by 263.2% during the first quarter. Jane Street Group LLC now owns 42,385 shares of the bank’s stock worth $1,317,000 after purchasing an additional 30,715 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of SmartFinancial by 11.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 46,565 shares of the bank’s stock worth $1,573,000 after purchasing an additional 4,639 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock worth $51,000 after acquiring an additional 472 shares during the period. 58.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SMBK shares. Keefe, Bruyette & Woods raised their price objective on shares of SmartFinancial from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Tuesday, April 21st. Zacks Research cut shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Raymond James Financial reissued 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 given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.88.

About SmartFinancial

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.