SmartFinancial, Inc. (NASDAQ:SMBK) to Issue Quarterly Dividend of $0.08
SmartFinancial, Inc. (NASDAQ:SMBK) has declared a quarterly dividend of $0.08, payable on December 2nd to stockholders of record as of November 17th. This represents an annualized dividend yield of 0.9%. The company has consistently raised its dividend by an average of 0.4% annually over the past three years. As of the latest trading, SMBK shares were down $0.16, trading at $34.95, with a market capitalization of $594.85 million. Institutional investors hold 58.78% of the stock, indicating strong interest from large investors.
SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) declared a quarterly dividend on Monday, November 3rd. Stockholders of record on Monday, November 17th will be paid a dividend of 0.08 per share by the bank on Tuesday, December 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 17th.
SmartFinancial has raised its dividend payment by an average of 0.4%annually over the last three years and has raised its dividend every year for the last 3 years.
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SmartFinancial Stock Performance
NASDAQ:SMBK traded down $0.16 during trading hours on Tuesday, hitting $34.95. 14,804 shares of the company were exchanged, compared to its average volume of 54,755. The stock has a market capitalization of $594.85 million, a price-to-earnings ratio of 16.33 and a beta of 0.80. SmartFinancial has a 52-week low of $26.31 and a 52-week high of $37.92. 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 company's 50 day moving average price is $35.92 and its 200-day moving average price is $34.07.
Hedge Funds Weigh In On SmartFinancial
Large investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its position in shares of SmartFinancial by 19.8% in the third quarter. New York State Common Retirement Fund now owns 4,234 shares of the bank's stock valued at $151,000 after buying an additional 700 shares during the last quarter. Federated Hermes Inc. raised its position in shares of SmartFinancial by 7,302.5% in the third quarter. Federated Hermes Inc. now owns 9,031 shares of the bank's stock valued at $323,000 after buying an additional 8,909 shares during the last quarter. Bailard Inc. raised its position in shares of SmartFinancial by 4.1% in the third quarter. Bailard Inc. now owns 20,515 shares of the bank's stock valued at $733,000 after buying an additional 815 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in shares of SmartFinancial in the third quarter valued at about $241,000. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of SmartFinancial in the third quarter valued at about $35,000. 58.78% of the stock is currently owned by institutional investors and hedge funds.
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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