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

Key Points

• SmartFinancial shares fell below their 50-day moving average, trading as low as $48.50 versus the $51.47 average, potentially signaling short-term weakness.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $50.42; individual targets range from $47 to $60.
• The company pays a quarterly dividend of $0.09, equivalent to a 0.7% annualized yield, while institutional investors own 58.78% of outstanding shares.

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report)'s stock price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $51.47 and traded as low as $48.50. SmartFinancial shares last traded at $49.8590, with a volume of 102,363 shares traded.

Wall Street Analysts Forecast Growth

SMBK has been the topic of several research analyst reports. Raymond James Financial reiterated a "strong-buy" rating and set a $58.00 price target on shares of SmartFinancial in a research report on Wednesday, July 22nd. Stephens raised their price objective on shares of SmartFinancial from $45.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their price objective on SmartFinancial from $46.00 to $50.00 and gave the company a "market perform" rating in a research report on Thursday, July 23rd. Finally, Benchmark upped their target price on SmartFinancial from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.42.

SmartFinancial Price Performance

The firm has a market cap of $852.49 million, a P/E ratio of 23.30 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The firm's 50 day moving average is $51.47 and its 200 day moving average is $45.89.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 31st were paid a $0.09 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. SmartFinancial's dividend payout ratio is presently 10.62%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in shares of SmartFinancial in the second quarter worth approximately $3,746,000. Bank of America Corp DE grew its holdings in shares of SmartFinancial by 147.6% during the first quarter. Bank of America Corp DE now owns 47,443 shares of the bank's stock valued at $1,854,000 after buying an additional 28,280 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of SmartFinancial by 176.1% during the fourth quarter. Hsbc Holdings PLC now owns 22,325 shares of the bank's stock valued at $825,000 after acquiring an additional 14,240 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of SmartFinancial during the first quarter valued at approximately $792,000. Finally, Principal Financial Group Inc. purchased a new position in SmartFinancial in the 1st quarter worth approximately $708,000. Hedge funds and other institutional investors own 58.78% of the company's stock.

About SmartFinancial

SmartFinancial, Inc is a bank holding company that operates through its wholly owned subsidiary, SmartBank. The company provides community banking services to individuals, businesses and institutions, with offerings that include deposit accounts, residential and commercial real estate lending, consumer loans, business loans and other credit products.

SmartBank also provides treasury management and cash-management services for businesses, along with mortgage banking, wealth management and related financial services.

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