SmartFinancial, Inc. (SMBK) to Issue Quarterly Dividend of $0.08 on February 18th

SmartFinancial, Inc. (NASDAQ:SMBKGet Free Report) declared a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Investors of record on Friday, January 31st will be paid a dividend of 0.08 per share by the bank on Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, January 31st.

SmartFinancial has raised its dividend payment by an average of 10.1% per year over the last three years. SmartFinancial has a payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SmartFinancial to earn $2.84 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 11.3%.

SmartFinancial Stock Down 0.1 %

NASDAQ SMBK opened at $35.68 on Wednesday. SmartFinancial has a 52 week low of $19.00 and a 52 week high of $37.72. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $603.84 million, a P/E ratio of 16.67 and a beta of 0.70. The stock’s 50-day moving average price is $33.26 and its 200-day moving average price is $30.98.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Raymond James reaffirmed a “strong-buy” rating and set a $42.00 price target (up previously from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Hovde Group lifted their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research note on Wednesday, October 23rd. Finally, Stephens lowered SmartFinancial from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.70.

Check Out Our Latest Stock Analysis on SMBK

Insider Transactions at SmartFinancial

In other news, Director John M. Presley sold 6,916 shares of SmartFinancial stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $35.05, for a total value of $242,405.80. Following the sale, the director now directly owns 3,960 shares of the company’s stock, valued at approximately $138,798. The trade was a 63.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 7,516 shares of company stock valued at $262,600. 7.68% of the stock is currently owned by corporate insiders.

About SmartFinancial

(Get Free Report)

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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Dividend History for SmartFinancial (NASDAQ:SMBK)

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