SmartFinancial (NASDAQ:SMBK) Shares Cross Below 50-Day Moving Average – What’s Next?

SmartFinancial, Inc. (NASDAQ:SMBK) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $40.97 and traded as low as $40.50. SmartFinancial shares last traded at $41.6050, with a volume of 37,993 shares traded.

Analyst Ratings Changes

Several research firms have recently commented on SMBK. Keefe, Bruyette & Woods boosted their price target on SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 21st. Raymond James Financial reissued a “strong-buy” rating and issued a $50.00 price target on shares of SmartFinancial in a research report on Monday, April 20th. Finally, Zacks Research lowered SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.88.

SmartFinancial Trading Up 1.8%

The company has a 50-day moving average price of $40.97 and a 200 day moving average price of $39.50. 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 stock has a market capitalization of $711.36 million, a P/E ratio of 19.44 and a beta of 0.73.

SmartFinancial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.09 per share. This is a positive change from SmartFinancial’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, May 15th. This represents a $0.36 annualized dividend and a yield of 0.9%. SmartFinancial’s dividend payout ratio (DPR) is presently 11.54%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new position in SmartFinancial during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC grew its stake in SmartFinancial by 46.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock worth $51,000 after buying an additional 472 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in SmartFinancial by 173.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock worth $64,000 after buying an additional 1,202 shares during the last quarter. State of Alaska Department of Revenue grew its stake in SmartFinancial by 209.1% during the 4th quarter. State of Alaska Department of Revenue now owns 2,105 shares of the bank’s stock worth $77,000 after buying an additional 1,424 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in SmartFinancial by 13.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank’s stock worth $106,000 after buying an additional 316 shares during the last quarter. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

About SmartFinancial

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.