SmartFinancial, Inc. (NASDAQ:SMBK) Shares Sold by Banc Funds Co. LLC

Banc Funds Co. LLC trimmed its holdings in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 29.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 362,433 shares of the bank's stock after selling 152,280 shares during the period. Banc Funds Co. LLC owned 2.14% of SmartFinancial worth $11,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted its holdings in SmartFinancial by 78.6% in the third quarter. Barclays PLC now owns 22,848 shares of the bank's stock valued at $666,000 after purchasing an additional 10,055 shares in the last quarter. Geode Capital Management LLC raised its stake in SmartFinancial by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 335,501 shares of the bank's stock worth $9,779,000 after acquiring an additional 1,307 shares in the last quarter. Jane Street Group LLC lifted its position in SmartFinancial by 6.9% in the third quarter. Jane Street Group LLC now owns 14,925 shares of the bank's stock valued at $435,000 after acquiring an additional 967 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in SmartFinancial in the fourth quarter valued at $917,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of SmartFinancial by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,448 shares of the bank's stock worth $1,377,000 after purchasing an additional 550 shares in the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Wesley Miller Welborn purchased 1,162 shares of the stock in a transaction dated Monday, February 3rd. The shares were acquired at an average cost of $34.75 per share, with a total value of $40,379.50. Following the purchase, the chairman now directly owns 96,938 shares in the company, valued at $3,368,595.50. This trade represents a 1.21 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SMBK shares. Stephens restated an "equal weight" rating and set a $31.00 price target on shares of SmartFinancial in a research note on Tuesday. Raymond James restated a "strong-buy" rating and set a $42.00 target price (up from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.50.

SmartFinancial Stock Performance

Shares of NASDAQ:SMBK traded up $1.90 during trading on Tuesday, reaching $30.24. The company had a trading volume of 12,412 shares, compared to its average volume of 52,796. 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 stock's fifty day moving average price is $31.44 and its 200 day moving average price is $32.69. SmartFinancial, Inc. has a fifty-two week low of $19.66 and a fifty-two week high of $37.72. The firm has a market capitalization of $514.54 million, a price-to-earnings ratio of 14.13 and a beta of 0.59.

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.