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

SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Friday, August 8th will be given a dividend of 0.08 per share by the bank on Monday, August 25th. This represents a $0.32 annualized dividend and a dividend yield of 0.90%.

SmartFinancial Stock Down 1.4%

Shares of NASDAQ:SMBK traded down $0.49 during trading on Thursday, hitting $35.56. 43,638 shares of the company's stock traded hands, compared to its average volume of 54,941. SmartFinancial has a 52 week low of $25.58 and a 52 week high of $37.72. 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 cap of $605.19 million, a price-to-earnings ratio of 16.62 and a beta of 0.70. The company has a 50-day moving average price of $33.27 and a 200-day moving average price of $32.38.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last released its earnings results on Monday, July 21st. The bank reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. SmartFinancial had a return on equity of 7.33% and a net margin of 12.67%. During the same period in the previous year, the business posted $0.46 EPS. As a group, research analysts forecast that SmartFinancial will post 2.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SMBK. AQR Capital Management LLC increased its holdings in shares of SmartFinancial by 150.9% during the 1st quarter. AQR Capital Management LLC now owns 51,972 shares of the bank's stock worth $1,615,000 after acquiring an additional 31,255 shares during the last quarter. Jane Street Group LLC lifted its position in shares of SmartFinancial by 263.2% during the 1st quarter. Jane Street Group LLC now owns 42,385 shares of the bank's stock valued at $1,317,000 after acquiring an additional 30,715 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of SmartFinancial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank's stock valued at $295,000 after acquiring an additional 390 shares during the period. Institutional investors and hedge funds own 58.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on SmartFinancial from $35.00 to $38.00 and gave the company a "market perform" rating in a research note on Thursday. Raymond James Financial restated a "strong-buy" rating and issued a $44.00 target price (up previously from $42.00) on shares of SmartFinancial in a research note on Thursday. Stephens restated an "equal weight" rating and issued a $31.00 target price on shares of SmartFinancial in a research note on Tuesday, April 22nd. Finally, Hovde Group boosted their price target on SmartFinancial from $37.50 to $40.00 and gave the stock a "market perform" rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, SmartFinancial presently has a consensus rating of "Hold" and a consensus target price of $36.20.

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.

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