9,900 Shares in SmartFinancial, Inc. (NASDAQ:SMBK) Purchased by Franklin Resources Inc.

Franklin Resources Inc. bought a new position in SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 9,900 shares of the bank's stock, valued at approximately $307,000. Franklin Resources Inc. owned approximately 0.06% of SmartFinancial at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SMBK. Wellington Management Group LLP increased its holdings in shares of SmartFinancial by 28.6% in the 4th quarter. Wellington Management Group LLP now owns 437,793 shares of the bank's stock worth $13,563,000 after buying an additional 97,375 shares during the last quarter. State Street Corp grew its position in SmartFinancial by 3.3% in the third quarter. State Street Corp now owns 336,147 shares of the bank's stock worth $9,795,000 after acquiring an additional 10,623 shares in the last quarter. Geode Capital Management LLC increased its stake in SmartFinancial by 0.4% in the third quarter. Geode Capital Management LLC now owns 335,501 shares of the bank's stock valued at $9,779,000 after acquiring an additional 1,307 shares during the last quarter. American Century Companies Inc. raised its position in SmartFinancial by 17.1% during the fourth quarter. American Century Companies Inc. now owns 274,947 shares of the bank's stock valued at $8,518,000 after purchasing an additional 40,104 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in SmartFinancial by 0.6% during the fourth quarter. Alliancebernstein L.P. now owns 208,193 shares of the bank's stock worth $6,450,000 after purchasing an additional 1,230 shares during the last quarter. 58.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SMBK. Raymond James reiterated a "strong-buy" rating and set a $42.00 price objective (up from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Stephens reaffirmed an "equal weight" rating and issued a $31.00 target price on shares of SmartFinancial in a research note on Tuesday. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.50.

Insider Activity at SmartFinancial

In other news, Chairman Wesley Miller Welborn bought 1,162 shares of SmartFinancial stock in a transaction on Monday, February 3rd. The shares were purchased at an average price of $34.75 per share, for a total transaction of $40,379.50. Following the acquisition, the chairman now owns 96,938 shares of the company's stock, valued at approximately $3,368,595.50. The trade was a 1.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.62% of the stock is owned by corporate insiders.

SmartFinancial Trading Down 0.2 %

Shares of NASDAQ:SMBK traded down $0.05 during midday trading on Thursday, hitting $30.09. 5,697 shares of the stock traded hands, compared to its average volume of 53,092. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The business's 50 day moving average is $31.22 and its two-hundred day moving average is $32.65. The stock has a market capitalization of $512.05 million, a PE ratio of 14.05 and a beta of 0.59. SmartFinancial, Inc. has a one year low of $20.14 and a one year high of $37.72.

SmartFinancial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Friday, May 2nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. SmartFinancial's dividend payout ratio is currently 14.16%.

SmartFinancial 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.