SmartFinancial (NASDAQ:SMBK) Reaches New 52-Week High - What's Next?

Key Points

• SmartFinancial's stock reached a new **52-week high** of **$37.82**, with an average trading price of **$37.31** and a volume of **18,744 shares** traded.
• Analysts have rated SmartFinancial with an average target price of **$38.25**, with Zacks Research upgrading their rating from **"hold"** to **"strong-buy."**
• The company recently announced a **quarterly dividend** of **$0.08 per share**, representing a **0.9% dividend yield** and a dividend payout ratio of **12.96%.**

Shares of SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $37.82 and last traded at $37.31, with a volume of 18744 shares traded. The stock had previously closed at $36.38.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Hovde Group raised their target price on SmartFinancial from $37.50 to $40.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Zacks Research upgraded SmartFinancial from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods raised their target price on SmartFinancial from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, 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, July 24th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $38.25.

SmartFinancial Trading Down 2.0%

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 $630.76 million, a price-to-earnings ratio of 17.32 and a beta of 0.81. The company has a fifty day moving average of $35.72 and a 200-day moving average of $32.87.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $0.69 earnings per share (EPS) for the quarter, topping 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, equities research analysts anticipate that SmartFinancial, Inc. will post 2.45 earnings per share for the current fiscal year.

SmartFinancial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 8th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, August 8th. SmartFinancial's dividend payout ratio (DPR) is 12.96%.

Institutional Trading of SmartFinancial

Several institutional investors have recently made changes to their positions in SMBK. CSM Advisors LLC purchased a new stake in shares of SmartFinancial during the 2nd quarter valued at approximately $5,996,000. Wellington Management Group LLP raised its position in shares of SmartFinancial by 28.6% during the 4th quarter. Wellington Management Group LLP now owns 437,793 shares of the bank's stock valued at $13,563,000 after buying an additional 97,375 shares during the period. Nuveen LLC purchased a new stake in shares of SmartFinancial during the 1st quarter valued at approximately $2,196,000. Millennium Management LLC raised its position in shares of SmartFinancial by 281.7% during the 4th quarter. Millennium Management LLC now owns 60,255 shares of the bank's stock valued at $1,867,000 after buying an additional 44,467 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in shares of SmartFinancial by 29.2% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 160,229 shares of the bank's stock valued at $5,413,000 after buying an additional 36,200 shares during the period. Hedge funds and other institutional investors own 58.78% of the company's stock.

About SmartFinancial

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.