Rather & Kittrell Inc. Purchases New Position in SmartFinancial, Inc. (NASDAQ:SMBK)

Rather & Kittrell Inc. acquired a new stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 22,028 shares of the bank's stock, valued at approximately $642,000. Rather & Kittrell Inc. owned approximately 0.13% of SmartFinancial at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SMBK. SG Americas Securities LLC acquired a new stake in shares of SmartFinancial in the 3rd quarter worth $161,000. Acadian Asset Management LLC acquired a new stake in SmartFinancial during the first quarter worth about $271,000. Creative Planning purchased a new position in SmartFinancial during the third quarter worth about $394,000. Inspire Investing LLC acquired a new position in SmartFinancial in the 3rd quarter valued at about $415,000. Finally, BNP Paribas Financial Markets grew its stake in shares of SmartFinancial by 429.0% in the 1st quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank's stock valued at $499,000 after buying an additional 19,210 shares during the period. Hedge funds and other institutional investors own 58.78% of the company's stock.

SmartFinancial Trading Up 1.4 %

Shares of SMBK stock traded up $0.51 on Friday, hitting $36.14. The stock had a trading volume of 49,068 shares, compared to its average volume of 70,796. The company's 50 day moving average price is $30.36 and its 200-day moving average price is $26.53. SmartFinancial, Inc. has a 1 year low of $19.00 and a 1 year high of $37.72. The firm has a market capitalization of $611.49 million, a P/E ratio of 18.63 and a beta of 0.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. The business had revenue of $73.10 million for the quarter, compared to analysts' expectations of $42.32 million. SmartFinancial had a net margin of 11.88% and a return on equity of 6.90%. During the same quarter in the prior year, the company earned $0.43 earnings per share. Analysts anticipate that SmartFinancial, Inc. will post 2.03 earnings per share for the current year.

SmartFinancial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. SmartFinancial's dividend payout ratio (DPR) is 16.49%.

Wall Street Analysts Forecast Growth

SMBK has been the topic of several analyst reports. Piper Sandler lowered shares of SmartFinancial from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $26.00 to $28.00 in a research report on Wednesday, July 24th. Raymond James upped their price target on SmartFinancial from $32.00 to $36.00 and gave the company a "strong-buy" rating in a research note on Wednesday, October 23rd. Stephens reiterated an "overweight" rating and set a $27.00 price target on shares of SmartFinancial in a report on Tuesday, July 23rd. Finally, Hovde Group boosted their price objective on shares of SmartFinancial from $28.00 to $32.50 and gave the company a "market perform" rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SmartFinancial presently has an average rating of "Moderate Buy" and a consensus price target of $29.50.

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.