JPMorgan Chase & Co. Purchases 42,771 Shares of SmartFinancial, Inc. (NASDAQ:SMBK)

JPMorgan Chase & Co. boosted its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 130.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 75,527 shares of the bank's stock after buying an additional 42,771 shares during the period. JPMorgan Chase & Co. owned approximately 0.45% of SmartFinancial worth $2,340,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. purchased a new stake in shares of SmartFinancial in the fourth quarter valued at $192,000. Welch Group LLC purchased a new stake in SmartFinancial in the 4th quarter worth about $202,000. Ridgepath Capital Management LLC purchased a new stake in SmartFinancial in the 4th quarter worth about $202,000. SG Americas Securities LLC lifted its stake in SmartFinancial by 32.1% in the fourth quarter. SG Americas Securities LLC now owns 7,292 shares of the bank's stock worth $226,000 after purchasing an additional 1,771 shares during the last quarter. Finally, RFG Advisory LLC purchased a new position in shares of SmartFinancial during the fourth quarter valued at approximately $310,000. 58.78% of the stock is currently owned by institutional investors.

SmartFinancial Trading Down 0.4 %

Shares of NASDAQ SMBK traded down $0.13 during trading hours on Friday, reaching $30.12. The stock had a trading volume of 36,400 shares, compared to its average volume of 53,108. 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 business's fifty day moving average price is $30.99 and its two-hundred day moving average price is $32.67. The firm has a market cap of $512.55 million, a price-to-earnings ratio of 14.07 and a beta of 0.59. SmartFinancial, Inc. has a 52-week low of $20.42 and a 52-week high of $37.72.

SmartFinancial Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Raymond James reiterated a "strong-buy" rating and issued a $42.00 price target (up from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Stephens reiterated an "equal weight" rating and issued a $31.00 target price on shares of SmartFinancial in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of SmartFinancial from $37.00 to $35.00 and set a "market perform" rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $33.70.

Insider Activity at SmartFinancial

In other SmartFinancial news, Chairman Wesley Miller Welborn acquired 1,162 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average cost of $34.75 per share, with a total value of $40,379.50. Following the completion of the acquisition, the chairman now directly owns 96,938 shares in the company, valued at $3,368,595.50. This represents a 1.21 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.62% of the stock is currently owned by corporate insiders.

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.