Curi RMB Capital LLC Sells 40,521 Shares of SmartFinancial, Inc. (NASDAQ:SMBK)

Curi RMB Capital LLC decreased its holdings in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 60.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,469 shares of the bank's stock after selling 40,521 shares during the quarter. Curi RMB Capital LLC owned 0.16% of SmartFinancial worth $771,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SMBK. Huntington National Bank lifted its position in SmartFinancial by 5,269.2% during the third 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 during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of SmartFinancial by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 31,849 shares of the bank's stock worth $928,000 after acquiring an additional 1,349 shares during the last quarter. Rather & Kittrell Inc. purchased a new position in SmartFinancial in the third quarter worth $642,000. Creative Planning bought a new position in SmartFinancial in the third quarter valued at $394,000. Finally, Inspire Investing LLC bought a new position in SmartFinancial in the third quarter valued at $415,000. 58.78% of the stock is currently owned by institutional investors.

SmartFinancial Trading Down 0.8 %

Shares of SmartFinancial stock traded down $0.29 on Friday, hitting $35.93. The stock had a trading volume of 37,000 shares, compared to its average volume of 47,512. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial, Inc. has a one year low of $19.00 and a one year high of $37.72. The stock's 50-day simple moving average is $31.11 and its two-hundred day simple moving average is $27.03. The stock has a market cap of $608.29 million, a price-to-earnings ratio of 18.52 and a beta of 0.67.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.05. The business had revenue of $73.10 million for the quarter, compared to analyst estimates of $42.32 million. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. During the same quarter last year, the firm earned $0.43 EPS. As a group, sell-side analysts predict that SmartFinancial, Inc. will post 2.03 EPS for the current year.

SmartFinancial Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Raymond James upped their price objective on SmartFinancial from $32.00 to $36.00 and gave the stock a "strong-buy" rating in a report on Wednesday, October 23rd. Piper Sandler cut shares of SmartFinancial from an "overweight" rating to a "neutral" rating and increased their price target for the company from $26.00 to $28.00 in a research report on Wednesday, July 24th. Hovde Group boosted their price objective on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a "market perform" rating in a report on Wednesday, October 23rd. Finally, Stephens reaffirmed an "overweight" rating and set a $27.00 target price on shares of SmartFinancial in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.50.

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.