SmartFinancial, Inc. (NASDAQ:SMBK) Increases Dividend to $0.09 Per Share

Key Points

• SmartFinancial raised its quarterly dividend to $0.09 per share (a 12.5% increase from $0.08), with record/ex-dividend date on May 15 and payment on June 1, implying about a 0.8% yield.
• The board approved a stock repurchase program authorizing up to $10.0 million of buybacks (roughly 1.5% of shares outstanding), a move that typically signals management believes the stock is undervalued.
• Shares are trading near $42.81 (50-day/200-day SMAs $40.07/$38.58), with a 12-month range of $29.63–$43.90, a market cap of about $732 million and a P/E of 19.6.

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) announced a quarterly dividend on Thursday, April 30th. Stockholders of record on Friday, May 15th will be paid a dividend of 0.09 per share by the bank on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, May 15th. This is a 12.5% increase from SmartFinancial's previous quarterly dividend of $0.08.

SmartFinancial has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 3 consecutive years.

SmartFinancial Trading Up 2.1%

Shares of NASDAQ:SMBK opened at $42.81 on Friday. The business's fifty day simple moving average is $40.07 and its 200-day simple moving average is $38.58. SmartFinancial has a 12-month low of $29.63 and a 12-month high of $43.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $731.88 million, a PE ratio of 19.57 and a beta of 0.76.

SmartFinancial declared that its board has approved a stock repurchase program on Friday, January 30th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the bank to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

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.

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