SmartFinancial (NASDAQ:SMBK) Shares Pass Below Fifty Day Moving Average – Should You Sell?

SmartFinancial, Inc. (NASDAQ:SMBK) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $33.63 and traded as low as $31.14. SmartFinancial shares last traded at $31.19, with a volume of 57,833 shares.

Wall Street Analyst Weigh In

SMBK has been the topic of a number of research reports. 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 report on Thursday, January 23rd. Stephens downgraded SmartFinancial from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.70.

SmartFinancial Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $538.67 million, a price-to-earnings ratio of 14.87 and a beta of 0.67. The business’s 50 day moving average price is $33.65 and its 200-day moving average price is $32.61.

SmartFinancial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were issued a $0.08 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. SmartFinancial’s dividend payout ratio is currently 14.95%.

Insider Activity at SmartFinancial

In related news, Chairman Wesley Miller Welborn bought 1,162 shares of the stock in a transaction on Monday, February 3rd. The shares were bought at an average cost 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 of the company’s stock, valued at $3,368,595.50. This represents a 1.21 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.68% of the company’s stock.

Institutional Investors Weigh In On SmartFinancial

Several institutional investors have recently modified their holdings of SMBK. Huntington National Bank increased its position in shares of SmartFinancial by 5,269.2% in the third quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock valued at $41,000 after buying an additional 1,370 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in SmartFinancial by 269.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank’s stock valued at $48,000 after acquiring an additional 1,122 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of SmartFinancial in the fourth quarter valued at about $104,000. Virtus Investment Advisers Inc. purchased a new stake in shares of SmartFinancial in the fourth quarter valued at about $124,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of SmartFinancial in the fourth quarter valued at approximately $192,000. Hedge funds and other institutional investors own 58.78% of the company’s stock.

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.