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SmartFinancial, Inc. (NASDAQ:SMBK) Shares Acquired by BHZ Capital Management LP

Financial News Live · Aug 19, 2022 12:22

BHZ Capital Management LP grew its holdings in SmartFinancial, Inc. (NASDAQ:SMBK – Get Rating) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,419 shares of the bank's stock after purchasing an additional 10,628 shares during the quarter. SmartFinancial makes up approximately 1.3% of BHZ Capital Management LP's portfolio, making the stock its 21st largest holding. BHZ Capital Management LP owned 0.88% of SmartFinancial worth $3,797,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SMBK. EverSource Wealth Advisors LLC acquired a new position in SmartFinancial in the 4th quarter worth $27,000. Allspring Global Investments Holdings LLC acquired a new stake in SmartFinancial during the fourth quarter valued at approximately $164,000. BNP Paribas Arbitrage SA lifted its position in shares of SmartFinancial by 81.3% in the 4th quarter. BNP Paribas Arbitrage SA now owns 6,441 shares of the bank's stock valued at $176,000 after acquiring an additional 2,889 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in SmartFinancial by 7.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 7,590 shares of the bank's stock valued at $208,000 after buying an additional 535 shares during the period. Finally, First Trust Advisors LP acquired a new position in shares of SmartFinancial during the 4th quarter worth $213,000. Institutional investors and hedge funds own 49.11% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Raymond James cut shares of SmartFinancial from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $33.00 to $27.00 in a research report on Thursday, July 7th. Stephens boosted their target price on shares of SmartFinancial to $30.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. Piper Sandler decreased their price objective on shares of SmartFinancial to $30.00 in a report on Monday, July 4th. Finally, StockNews.com cut shares of SmartFinancial from a "buy" rating to a "hold" rating in a research report on Monday, May 23rd.

Insider Activity

In related news, Director John M. Presley sold 2,930 shares of the stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $25.78, for a total transaction of $75,535.40. Following the completion of the transaction, the director now directly owns 69,643 shares of the company's stock, valued at $1,795,396.54. The sale was disclosed in a filing with the SEC, which is available through this link. In other SmartFinancial news, Director John M. Presley sold 3,540 shares of the business's stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $26.02, for a total transaction of $92,110.80. Following the completion of the sale, the director now directly owns 66,103 shares in the company, valued at approximately $1,720,000.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John M. Presley sold 2,930 shares of the company's stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $25.78, for a total value of $75,535.40. Following the completion of the transaction, the director now owns 69,643 shares in the company, valued at $1,795,396.54. The disclosure for this sale can be found here. Corporate insiders own 8.91% of the company's stock.

SmartFinancial Stock Down 0.3 %

NASDAQ:SMBK traded down $0.08 during trading hours on Friday, hitting $27.12. 6 shares of the company traded hands, compared to its average volume of 29,090. SmartFinancial, Inc. has a one year low of $22.63 and a one year high of $28.63. The company has a market cap of $458.33 million, a PE ratio of 12.89 and a beta of 0.71. The firm's 50-day simple moving average is $24.87 and its 200-day simple moving average is $25.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13.

SmartFinancial (NASDAQ:SMBK – Get Rating) last posted its earnings results on Monday, July 25th. The bank reported $0.61 earnings per share for the quarter, meeting analysts' consensus estimates of $0.61. SmartFinancial had a return on equity of 8.85% and a net margin of 21.34%. During the same quarter last year, the firm posted $0.60 earnings per share. Equities analysts predict that SmartFinancial, Inc. will post 2.62 earnings per share for the current year.

SmartFinancial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Friday, August 12th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, August 11th. SmartFinancial's dividend payout ratio (DPR) is 13.27%.

About SmartFinancial

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SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, and Consumer and Other segments.