Wesley Miller Welborn Purchases 1,162 Shares of SmartFinancial, Inc. (NASDAQ:SMBK) Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Chairman Wesley Miller Welborn purchased 1,162 shares of SmartFinancial stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average price of $34.75 per share, for a total transaction of $40,379.50. Following the completion of the transaction, the chairman now owns 96,938 shares in the company, valued at $3,368,595.50. The trade was a 1.21 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SmartFinancial Stock Up 2.5 %

Shares of NASDAQ SMBK opened at $36.26 on Thursday. The firm has a fifty day simple moving average of $33.14 and a two-hundred day simple moving average of $31.31. The firm has a market capitalization of $613.80 million, a PE ratio of 16.94 and a beta of 0.71. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial, Inc. has a 12 month low of $19.00 and a 12 month high of $37.72.

SmartFinancial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.32 annualized dividend and a yield of 0.88%. SmartFinancial’s payout ratio is 14.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Stieven Capital Advisors L.P. bought a new stake in shares of SmartFinancial during the third quarter valued at approximately $4,491,000. Wellington Management Group LLP lifted its position in SmartFinancial by 69.0% during the third quarter. Wellington Management Group LLP now owns 340,418 shares of the bank’s stock valued at $9,920,000 after buying an additional 139,009 shares during the period. Foundry Partners LLC boosted its holdings in shares of SmartFinancial by 23.9% during the 3rd quarter. Foundry Partners LLC now owns 184,555 shares of the bank’s stock valued at $5,378,000 after buying an additional 35,565 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of SmartFinancial in the 4th quarter worth about $917,000. Finally, Rather & Kittrell Inc. bought a new position in shares of SmartFinancial in the 3rd quarter worth about $642,000. Hedge funds and other institutional investors own 58.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Hovde Group increased their price objective on SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research note on Wednesday, October 23rd. Raymond James reissued a “strong-buy” rating and set a $42.00 price target (up previously from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Finally, Stephens downgraded shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Four 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, the company presently has an average rating of “Hold” and a consensus target price of $30.70.

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.