Japan PM Ishiba to announce resignation by August end – Mainichi
Jordan Rhett D., Executive Vice President and Chief Credit Officer of SmartFinancial Inc . (NASDAQ:NYSE:SMBK), a $613 million market cap financial institution with a GOOD financial health rating according to InvestingPro, recently sold 200 shares of the company's common stock. The shares were sold at a price of $35.61 each, totaling $7,122, amid the stock's impressive 63% surge over the past six months. Following this transaction, Rhett holds 10,308 shares directly. This transaction was filed with the SEC on December 4, 2024. The company has maintained a consistent dividend increase for five consecutive years, demonstrating strong shareholder returns. For more detailed analysis and insights, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, SmartFinancial Inc. reported strong Q3 2024 earnings and is setting its sights on a $50M revenue target by Q3 2025. The company's net income stood at $9.1 million, equating to $0.54 per diluted share, and the tangible book value increased to $22.67 per share. A significant loan growth of over 16% annualized and an improved net interest margin of 3.11% were among the financial highlights.
SmartFinancial's management is anticipating continued margin expansion and aims for mid to high single-digit loan growth. The company's total revenue reached $44.1 million, with operating noninterest income at $9.1 million. As part of the recent developments, SmartFinancial added 15 new sales team members and received a Great Place To Work certification.
Analysts from firms such as Catherine Mealor and Ronald Gorczynski have shown interest in the company's effective management of deposit costs and responsiveness to rate changes. Despite the commercial real estate concentration at 288%, the company remains confident in its growth trajectory and strategic core deposit growth.
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