Proficio Capital Partners LLC bought a new stake in SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 29,586 shares of the bank's stock, valued at approximately $917,000. Proficio Capital Partners LLC owned approximately 0.17% of SmartFinancial at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP raised its stake in SmartFinancial by 69.0% in the third quarter. Wellington Management Group LLP now owns 340,418 shares of the bank's stock valued at $9,920,000 after purchasing an additional 139,009 shares in the last quarter. State Street Corp grew its position in SmartFinancial by 3.3% during the third quarter. State Street Corp now owns 336,147 shares of the bank's stock valued at $9,795,000 after acquiring an additional 10,623 shares during the last quarter. Geode Capital Management LLC grew its position in SmartFinancial by 0.4% during 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. Foundry Partners LLC grew its position in SmartFinancial by 23.9% during the third quarter. Foundry Partners LLC now owns 184,555 shares of the bank's stock valued at $5,378,000 after acquiring an additional 35,565 shares during the last quarter. Finally, Stieven Capital Advisors L.P. bought a new position in SmartFinancial during the third quarter valued at approximately $4,491,000. 58.78% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Chairman Wesley Miller Welborn bought 1,162 shares of the firm'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 purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director John M. Presley sold 6,916 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $35.05, for a total transaction of $242,405.80. Following the transaction, the director now directly owns 3,960 shares in the company, valued at approximately $138,798. The trade was a 63.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.68% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Stephens cut shares of SmartFinancial from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 9th. Raymond James reiterated a "strong-buy" rating and set a $42.00 price target (up from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $30.70.
Get Our Latest Stock Analysis on SMBK
SmartFinancial Trading Down 1.0 %
Shares of NASDAQ SMBK traded down $0.31 during mid-day trading on Friday, hitting $32.32. The stock had a trading volume of 38,258 shares, compared to its average volume of 47,710. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. SmartFinancial, Inc. has a 1 year low of $19.00 and a 1 year high of $37.72. The business has a 50 day moving average price of $33.62 and a two-hundred day moving average price of $32.47. The firm has a market cap of $547.05 million, a P/E ratio of 15.10 and a beta of 0.67.
SmartFinancial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, January 31st. SmartFinancial's payout ratio is 14.95%.
About SmartFinancial
(
Free Report)
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.
Further Reading
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