SmartFinancial, Inc. (NASDAQ:SMBK) Plans Quarterly Dividend of $0.08

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) announced a quarterly dividend on Tuesday, April 22nd, Wall Street Journal reports. Shareholders of record on Friday, May 2nd will be paid a dividend of 0.08 per share by the bank on Monday, May 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, May 2nd.

SmartFinancial has increased its dividend by an average of 17.0% per year over the last three years.

SmartFinancial Stock Performance

Shares of NASDAQ SMBK traded down $0.13 during midday trading on Friday, hitting $30.12. The company's stock had a trading volume of 36,400 shares, compared to its average volume of 53,108. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. SmartFinancial has a 1-year low of $20.42 and a 1-year high of $37.72. The firm's fifty day moving average price is $30.99 and its 200-day moving average price is $32.70. The firm has a market cap of $512.55 million, a P/E ratio of 14.07 and a beta of 0.59.

Insider Buying and Selling at SmartFinancial

In other SmartFinancial news, Chairman Wesley Miller Welborn purchased 1,162 shares of the stock in a transaction dated Monday, February 3rd. The shares were bought at an average cost of $34.75 per share, with a total value of $40,379.50. Following the completion of the acquisition, the chairman now owns 96,938 shares of the company's stock, valued at approximately $3,368,595.50. This trade represents a 1.21 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SMBK shares. Keefe, Bruyette & Woods decreased their target price on SmartFinancial from $37.00 to $35.00 and set a "market perform" rating for the company in a research note on Thursday. Stephens restated an "equal weight" rating and set a $31.00 price objective on shares of SmartFinancial in a research report on Tuesday, April 22nd. Finally, Raymond James restated a "strong-buy" rating and set a $42.00 price objective (up from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $33.70.

SmartFinancial Company Profile

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.