American Century Companies Inc. Has $8.52 Million Position in SmartFinancial, Inc. (NASDAQ:SMBK)

American Century Companies Inc. increased its holdings in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,947 shares of the bank's stock after purchasing an additional 40,104 shares during the period. American Century Companies Inc. owned approximately 1.62% of SmartFinancial worth $8,518,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geneos Wealth Management Inc. acquired a new stake in shares of SmartFinancial in the 4th quarter valued at about $192,000. Welch Group LLC bought a new position in shares of SmartFinancial during the fourth quarter worth about $202,000. Ridgepath Capital Management LLC acquired a new stake in SmartFinancial in the 4th quarter valued at approximately $202,000. Jacobs Levy Equity Management Inc. bought a new stake in SmartFinancial in the 3rd quarter valued at approximately $226,000. Finally, SG Americas Securities LLC boosted its position in SmartFinancial by 32.1% during the 4th quarter. SG Americas Securities LLC now owns 7,292 shares of the bank's stock worth $226,000 after acquiring an additional 1,771 shares during the last quarter. 58.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SmartFinancial

In other SmartFinancial news, Chairman Wesley Miller Welborn purchased 1,162 shares of SmartFinancial stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average price of $34.75 per share, for a total transaction of $40,379.50. Following the completion of the acquisition, the chairman now owns 96,938 shares of the company's stock, valued at approximately $3,368,595.50. This trade represents a 1.21 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 7.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SMBK shares. Raymond James reiterated a "strong-buy" rating and issued a $42.00 price objective (up from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Stephens lowered shares of SmartFinancial from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, SmartFinancial currently has an average rating of "Hold" and an average price target of $30.70.

SmartFinancial Stock Down 0.6 %

Shares of SmartFinancial stock traded down $0.17 on Tuesday, reaching $27.46. 71,020 shares of the company were exchanged, compared to its average volume of 52,169. The company has a market capitalization of $467.23 million, a price-to-earnings ratio of 12.83 and a beta of 0.59. SmartFinancial, Inc. has a one year low of $19.00 and a one year high of $37.72. The company has a 50-day moving average of $32.95 and a 200 day moving average of $32.73. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, January 31st. SmartFinancial's dividend payout ratio (DPR) is presently 14.95%.

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.