SmartFinancial (SMBK) Declares $0.08 Dividend

SmartFinancial said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Shareholders of record as of February 9, 2023 will receive the payment on February 27, 2023. Previously, the company paid $0.07 per share.

At the most recent share price of $26.41 / share, the stock's dividend yield was 1.21%.

Additionally, the company's dividend payout ratio is 0.11. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.40%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 26.16% Upside

As of January 27, 2023, the average one-year price target for SmartFinancial is $33.32. The forecasts range from a low of $30.30 to a high of $35.70. The average price target represents an increase of 26.16% from its latest reported closing price of $26.41.

The projected annual revenue for SmartFinancial is $191MM, an increase of 18.43%. The projected annual EPS is $3.05, an increase of 18.49%.

Fund Sentiment

There are 240 funds or institutions reporting positions in SmartFinancial. This is an increase of just one owner(s) or 0.42% over the last quarter.

Average portfolio weight of all funds dedicated to US:SMBK is 0.0966%, an increase of 5.6516%. Total shares owned by institutions increased in the last three months by 2.64% to 8,348K shares.

What are large shareholders doing?

Banc Funds Co holds 679,185 shares representing 4.02% ownership of the company. No change in the last quarter.

Private Capital Management holds 545,877 shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 602,045 shares, representing a decrease of 10.29%. The firm decreased its portfolio allocation in SMBK by 12.00% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 401,450 shares representing 2.38% ownership of the company. No change in the last quarter.

IWM - iShares Russell 2000 ETF holds 306,105 shares representing 1.81% ownership of the company. In it's prior filing, the firm reported owning 322,588 shares, representing a decrease of 5.38%. The firm increased its portfolio allocation in SMBK by 5.11% over the last quarter.

Geode Capital Management holds 266,846 shares representing 1.58% ownership of the company. In it's prior filing, the firm reported owning 265,237 shares, representing an increase of 0.60%. The firm increased its portfolio allocation in SMBK by 6.54% over the last quarter.

SmartFinancial Background Information
(This description is provided by the company.)

SmartFinancial, Inc., based in Knoxville, Tennessee, is the publicly-traded bank holding company for SmartBank. SmartBank is a full-service commercial bank founded in 2007 with 35 branches spanning East and Middle Tennessee, Alabama and the Florida Panhandle. Recruiting the best people, delivering exceptional client service, strategic branching, and a disciplined approach to lending have all contributed to the company's success.

This story originally appeared on Fintel.