RFG Advisory LLC Buys Shares of 10,000 SmartFinancial, Inc. (NASDAQ:SMBK)

RFG Advisory LLC bought a new position in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the bank's stock, valued at approximately $310,000. RFG Advisory LLC owned approximately 0.06% of SmartFinancial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in shares of SmartFinancial by 5,269.2% during the 3rd quarter. Huntington National Bank now owns 1,396 shares of the bank's stock valued at $41,000 after purchasing an additional 1,370 shares in the last quarter. SG Americas Securities LLC bought a new stake in SmartFinancial during the third quarter worth approximately $161,000. Jacobs Levy Equity Management Inc. bought a new stake in SmartFinancial during the third quarter worth approximately $226,000. CAP Partners LLC acquired a new position in SmartFinancial in the third quarter worth approximately $230,000. Finally, XTX Topco Ltd bought a new position in shares of SmartFinancial in the third quarter valued at $272,000. Institutional investors own 58.78% of the company's stock.

Insiders Place Their Bets

In other SmartFinancial news, Director John M. Presley sold 6,916 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $35.05, for a total value of $242,405.80. Following the completion of the sale, the director now owns 3,960 shares in the company, valued at $138,798. This represents a 63.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 7,766 shares of company stock worth $271,800. 7.68% of the stock is currently owned by company insiders.

SmartFinancial Stock Down 0.4 %

NASDAQ:SMBK traded down $0.13 during trading hours on Friday, hitting $35.12. 40,962 shares of the stock traded hands, compared to its average volume of 52,648. The firm has a market cap of $594.63 million, a price-to-earnings ratio of 16.41 and a beta of 0.70. The firm has a 50 day moving average price of $33.21 and a 200 day moving average price of $31.13. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $37.72.

SmartFinancial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, January 31st. SmartFinancial's dividend payout ratio is currently 14.95%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SMBK shares. Raymond James reissued a "strong-buy" rating and set a $42.00 price objective (up from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Hovde Group increased their price target on SmartFinancial from $28.00 to $32.50 and gave the company a "market perform" rating in a research report on Wednesday, October 23rd. Finally, Stephens downgraded SmartFinancial from an "overweight" rating to an "equal weight" rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $30.70.

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.