SmartFinancial (NASDAQ:SMBK) PT Lowered to $24.00 at Keefe, Bruyette & Woods

SmartFinancial (NASDAQ:SMBK) had its target price trimmed by Keefe, Bruyette & Woods from $26.00 to $24.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

Several other brokerages also recently issued reports on SMBK. Stephens reiterated an overweight rating and issued a $26.00 target price on shares of SmartFinancial in a research note on Tuesday. Raymond James upped their target price on shares of SmartFinancial from $24.00 to $28.00 and gave the stock a strong-buy rating in a research note on Friday, January 5th. Hovde Group dropped their target price on shares of SmartFinancial from $26.00 to $23.00 and set a market perform rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of SmartFinancial from a sell rating to a hold rating in a research report on Tuesday, January 9th. Finally, Piper Sandler upgraded shares of SmartFinancial from a neutral rating to an overweight rating and increased their price objective for the company from $25.00 to $26.00 in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $25.40.

SmartFinancial Trading Down 0.9 %

Shares of NASDAQ SMBK opened at $20.66 on Wednesday. The firm’s 50 day moving average price is $20.73 and its 200-day moving average price is $21.92. The company has a market cap of $352.46 million, a PE ratio of 13.24 and a beta of 0.69. SmartFinancial has a 52-week low of $18.86 and a 52-week high of $25.98. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 0.88.

SmartFinancial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.32 dividend on an annualized basis and a yield of 1.55%. SmartFinancial’s dividend payout ratio (DPR) is 20.51%.

Insiders Place Their Bets

In other SmartFinancial news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.63, for a total value of $51,782.22. Following the transaction, the executive vice president now directly owns 19,091 shares in the company, valued at $412,938.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Salzhauer Michael raised its position in SmartFinancial by 5.5% in the first quarter. Salzhauer Michael now owns 243,467 shares of the bank’s stock worth $5,130,000 after acquiring an additional 12,700 shares during the period. Foundry Partners LLC raised its position in SmartFinancial by 44.9% in the fourth quarter. Foundry Partners LLC now owns 106,463 shares of the bank’s stock worth $2,607,000 after acquiring an additional 32,968 shares during the period. Russell Investments Group Ltd. raised its position in SmartFinancial by 48.6% in the fourth quarter. Russell Investments Group Ltd. now owns 105,382 shares of the bank’s stock worth $2,581,000 after acquiring an additional 34,488 shares during the period. Mendon Capital Advisors Corp bought a new position in SmartFinancial in the fourth quarter worth approximately $1,872,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of SmartFinancial in the third quarter worth $758,000. 58.78% of the stock is currently owned by institutional investors.

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.