SmartFinancial (NASDAQ:SMBK) Director Steven Tucker Sells 3,500 Shares of Stock

Key Points

• SmartFinancial Director Steven Tucker sold 3,500 shares at an average price of $49.50, generating $173,250. Following the sale, he retained 47,222 shares, a 6.9% reduction in his position.
• SmartFinancial shares traded at $49.65, with the stock up modestly during the session. The company has a market capitalization of approximately $848.9 million and has traded between $34.22 and $54.14 over the past year.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $50.42; institutional investors own 58.78% of the company.

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) Director Steven Tucker sold 3,500 shares of the firm's stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $49.50, for a total transaction of $173,250.00. Following the completion of the sale, the director owned 47,222 shares in the company, valued at approximately $2,337,489. The trade was a 6.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

SmartFinancial Stock Performance

Shares of SMBK traded up $0.31 during trading hours on Monday, reaching $49.65. 102,014 shares of the company traded hands, compared to its average volume of 96,120. 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 fifty day moving average is $50.72 and its 200 day moving average is $44.92. SmartFinancial, Inc. has a 1-year low of $34.22 and a 1-year high of $54.14. The stock has a market cap of $848.92 million, a P/E ratio of 23.20 and a beta of 0.71.

Institutional Investors Weigh In On SmartFinancial

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in shares of SmartFinancial by 1,374.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 855 shares of the bank's stock worth $42,000 after buying an additional 797 shares during the period. Fortitude Family Office LLC grew its position 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 acquiring an additional 836 shares during the period. Public Employees Retirement System of Ohio bought a new stake in SmartFinancial in the second quarter valued at $47,000. USA Financial Formulas acquired a new position in SmartFinancial during the third quarter worth $48,000. Finally, PNC Financial Services Group Inc. raised its stake in SmartFinancial by 13.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank's stock worth $106,000 after acquiring an additional 316 shares in the last quarter. 58.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SMBK has been the subject of a number of recent research reports. Benchmark upped their target price on SmartFinancial from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Keefe, Bruyette & Woods lifted 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 shares of SmartFinancial from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $58.00 to $56.00 in a report on Wednesday, October 21st. Finally, Stephens increased their price objective on shares of SmartFinancial from $45.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $50.42.

About SmartFinancial

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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