Smartfinancial, Inc. has approved a regular quarterly cash dividend of $0.08 per share of Smartfinancial common stock. This dividend is payable on November 27, 2024, to shareholders of record as of the close of business on November 12, 2024.
In terms of financial performance, Smartfinancial, Inc. has made significant progress. Looking at the company's revenue, it has increased by 6% compared to the same period last year. Additionally, the net income has surged by 12% from the previous quarter.
Furthermore, the company's total assets have grown by 8% since the last report, demonstrating strong and sustained expansion. The growth in assets reflects the company's ability to attract and retain customers, as well as its effective management of investments and resources.
Smartfinancial, Inc. has also shown improvement in its loan portfolio. Total loans have increased by 7% since the last quarter, indicating the company's success in expanding its lending activities and managing credit risks effectively.
Moreover, the company's provision for credit losses has decreased by 10% from the previous quarter, showcasing Smartfinancial, Inc.'s prudent risk management practices and the quality of its loan portfolio.
Following these announcements, the company's shares moved 4.3%, and are now trading at a price of $33.06. Check out the company's full 8-K submission here.
