BNP Paribas Financial Markets Has $102,000 Holdings in SmartFinancial, Inc. (NASDAQ:SMBK)

BNP Paribas Financial Markets cut its position in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 83.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,499 shares of the bank's stock after selling 17,161 shares during the quarter. BNP Paribas Financial Markets' holdings in SmartFinancial were worth $102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in SmartFinancial by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 96,021 shares of the bank's stock worth $2,273,000 after buying an additional 3,810 shares in the last quarter. Rhumbline Advisers boosted its position in SmartFinancial by 1.5% during the second quarter. Rhumbline Advisers now owns 24,147 shares of the bank's stock valued at $572,000 after purchasing an additional 361 shares during the last quarter. Victory Capital Management Inc. grew its stake in SmartFinancial by 22.0% in the second quarter. Victory Capital Management Inc. now owns 30,500 shares of the bank's stock valued at $722,000 after purchasing an additional 5,500 shares in the last quarter. Acadian Asset Management LLC increased its position in SmartFinancial by 320.7% in the 2nd quarter. Acadian Asset Management LLC now owns 54,574 shares of the bank's stock worth $1,289,000 after purchasing an additional 41,602 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of SmartFinancial by 16.9% during the 2nd quarter. American Century Companies Inc. now owns 183,751 shares of the bank's stock worth $4,349,000 after purchasing an additional 26,583 shares in the last quarter. 58.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John M. Presley sold 6,916 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $35.05, for a total value of $242,405.80. Following the completion of the transaction, the director now directly owns 3,960 shares of the company's stock, valued at $138,798. This trade represents a 63.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 7,516 shares of company stock valued at $262,600. Insiders own 7.68% of the company's stock.

Wall Street Analyst Weigh In

SMBK has been the subject of several recent research reports. Hovde Group boosted their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a "market perform" rating in a research report on Wednesday, October 23rd. Stephens cut shares of SmartFinancial from an "overweight" rating to an "equal weight" rating in a report on Monday, December 9th. Finally, Raymond James boosted their price target on SmartFinancial from $32.00 to $36.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, SmartFinancial currently has an average rating of "Hold" and an average target price of $29.50.

SmartFinancial Stock Performance

SMBK traded down $0.21 during midday trading on Thursday, reaching $31.36. The company's stock had a trading volume of 55,033 shares, compared to its average volume of 47,170. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $34.07 and a 200 day simple moving average of $29.12. The stock has a market cap of $530.80 million, a P/E ratio of 16.17 and a beta of 0.68. SmartFinancial, Inc. has a twelve month low of $19.00 and a twelve month high of $37.72.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last announced its earnings results on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.05. The business had revenue of $73.10 million for the quarter, compared to analyst estimates of $42.32 million. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Research analysts expect that SmartFinancial, Inc. will post 2.02 earnings per share for the current year.

SmartFinancial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.08 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. SmartFinancial's payout ratio is 16.49%.

About SmartFinancial

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.