SmartFinancial, Inc. (NASDAQ:SMBK) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC lowered its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 30.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 451,492 shares of the bank's stock after selling 194,473 shares during the period. SmartFinancial accounts for 10.2% of Cravens & Co Advisors LLC's investment portfolio, making the stock its largest position. Cravens & Co Advisors LLC owned 2.67% of SmartFinancial worth $13,156,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of SmartFinancial by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 789,233 shares of the bank's stock worth $16,629,000 after buying an additional 19,490 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of SmartFinancial by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 699,794 shares of the bank's stock worth $16,563,000 after purchasing an additional 35,054 shares during the period. Deprince Race & Zollo Inc. increased its position in shares of SmartFinancial by 2.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 200,565 shares of the bank's stock worth $4,747,000 after purchasing an additional 4,412 shares during the last quarter. Foundry Partners LLC raised its holdings in SmartFinancial by 23.9% in the 3rd quarter. Foundry Partners LLC now owns 184,555 shares of the bank's stock valued at $5,378,000 after buying an additional 35,565 shares during the period. Finally, American Century Companies Inc. raised its holdings in SmartFinancial by 16.9% in the 2nd quarter. American Century Companies Inc. now owns 183,751 shares of the bank's stock valued at $4,349,000 after buying an additional 26,583 shares during the period. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

SmartFinancial Trading Down 0.4 %

NASDAQ:SMBK opened at $36.61 on Wednesday. The stock has a 50-day simple moving average of $32.13 and a 200-day simple moving average of $27.80. The stock has a market cap of $619.81 million, a P/E ratio of 18.87 and a beta of 0.67. SmartFinancial, Inc. has a 1 year low of $19.00 and a 1 year high of $37.72. 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 (NASDAQ:SMBK - Get Free Report) last issued its earnings results on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. The business had revenue of $73.10 million during the quarter, compared to analysts' expectations of $42.32 million. During the same quarter in the prior year, the business posted $0.43 EPS. As a group, analysts anticipate that SmartFinancial, Inc. will post 2.02 earnings per share for the current fiscal year.

SmartFinancial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Tuesday, November 12th. SmartFinancial's payout ratio is currently 16.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SMBK shares. Raymond James raised their price target on SmartFinancial from $32.00 to $36.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, October 23rd. Hovde Group boosted their price target on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a "market perform" rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SmartFinancial presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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