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

SmartFinancial, Inc. (NASDAQ:SMBK) declared a quarterly dividend on Thursday, April 25th, NASDAQ reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.08 per share by the bank on Tuesday, May 28th. This represents a $0.32 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 9th.

SmartFinancial has a payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SmartFinancial to earn $2.15 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 14.9%.

SmartFinancial Price Performance

Shares of NASDAQ SMBK traded down $0.18 during midday trading on Friday, hitting $20.66. The stock had a trading volume of 41,309 shares, compared to its average volume of 33,517. SmartFinancial has a 1 year low of $18.86 and a 1 year high of $25.98. The company has a market capitalization of $352.46 million, a PE ratio of 13.24 and a beta of 0.69. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $20.78 and a 200-day simple moving average of $21.92.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). SmartFinancial had a return on equity of 6.94% and a net margin of 10.65%. The company had revenue of $65.07 million for the quarter, compared to analysts’ expectations of $39.14 million. During the same quarter in the previous year, the business posted $0.76 EPS. On average, sell-side analysts expect that SmartFinancial will post 1.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SMBK has been the topic of a number of analyst reports. Piper Sandler upgraded SmartFinancial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $25.00 to $26.00 in a research report on Wednesday. StockNews.com upgraded SmartFinancial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods cut their target price on SmartFinancial from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Wednesday. Hovde Group cut their target price on SmartFinancial from $26.00 to $23.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, Stephens reissued an “overweight” rating and set a $26.00 target price on shares of SmartFinancial in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, SmartFinancial currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.

Insiders Place Their Bets

In other news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of SmartFinancial stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.63, for a total value of $51,782.22. Following the completion of the sale, the executive vice president now directly owns 19,091 shares of the company’s stock, valued at $412,938.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.80% of the stock is owned by insiders.

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.