Insider Selling: SmartFinancial (NASDAQ:SMBK) Director Sells 3,550 Shares of Company Stock

Key Points

• Director Steven Tucker sold 3,550 SmartFinancial shares at an average price of $49.62, worth about $176,151. After the sale, he owned 43,672 shares, a 7.52% reduction in his stake.
• SmartFinancial shares rose 1.8% to $49.48 in Wednesday trading. The company also announced a quarterly dividend of $0.09 per share, equivalent to a 0.7% yield.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $52.60; recent targets range from $47 to $60.

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) Director Steven Tucker sold 3,550 shares of SmartFinancial stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $49.62, for a total value of $176,151.00. Following the completion of the transaction, the director directly owned 43,672 shares of the company's stock, valued at approximately $2,167,004.64. This represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SmartFinancial Stock Up 1.8%

Shares of SMBK traded up $0.88 during mid-day trading on Wednesday, hitting $49.48. 144,485 shares of the company's stock were exchanged, compared to its average volume of 96,504. The company has a market cap of $846.01 million, a price-to-earnings ratio of 23.12 and a beta of 0.71. SmartFinancial, Inc. has a fifty-two week low of $34.50 and a fifty-two week high of $54.14. 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 stock's 50-day moving average is $50.41 and its 200-day moving average is $45.24.

SmartFinancial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 16th. SmartFinancial's dividend payout ratio is presently 9.78%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in shares of SmartFinancial by 1,374.1% during the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank's stock worth $42,000 after purchasing an additional 797 shares in the last quarter. Fortitude Family Office LLC increased its holdings in SmartFinancial by 3,096.3% in the third quarter. Fortitude Family Office LLC now owns 863 shares of the bank's stock valued at $43,000 after buying an additional 836 shares during the last quarter. USA Financial Formulas purchased a new position in SmartFinancial in the third quarter valued at $48,000. Public Employees Retirement System of Ohio purchased a new position in SmartFinancial in the second quarter valued at $47,000. Finally, PNC Financial Services Group Inc. raised its stake in SmartFinancial by 13.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank's stock valued at $106,000 after buying an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company's stock.

Analysts Set New Price Targets

SMBK has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of SmartFinancial from $51.00 to $52.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 21st. Raymond James Financial lowered SmartFinancial from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $58.00 to $56.00 in a research report on Wednesday, October 21st. Stephens increased their price objective on SmartFinancial from $45.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Finally, Benchmark lifted their target price on SmartFinancial from $56.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.60.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank's products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.

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