Elizabeth Park Capital Advisors Ltd. lifted its position in shares of SmartFinancial, Inc. (NASDAQ:SMBK – Get Rating) by 16.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,160 shares of the bank's stock after purchasing an additional 21,214 shares during the quarter. Elizabeth Park Capital Advisors Ltd. owned approximately 0.88% of SmartFinancial worth $3,790,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its position in shares of SmartFinancial by 81.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 6,441 shares of the bank's stock worth $176,000 after acquiring an additional 2,889 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in SmartFinancial by 7.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,590 shares of the bank's stock valued at $208,000 after acquiring an additional 535 shares during the period. First Trust Advisors LP acquired a new position in SmartFinancial in the fourth quarter valued at about $213,000. MetLife Investment Management LLC grew its stake in SmartFinancial by 58.5% in the first quarter. MetLife Investment Management LLC now owns 8,657 shares of the bank's stock valued at $221,000 after acquiring an additional 3,195 shares during the period. Finally, Rather & Kittrell Inc. acquired a new position in shares of SmartFinancial during the fourth quarter worth about $256,000. Institutional investors and hedge funds own 44.19% of the company's stock.
Get SmartFinancial alerts:Analyst Upgrades and Downgrades
Several research analysts recently commented on SMBK shares. Stephens increased their price target on SmartFinancial to $30.00 and gave the company an "outperform" rating in a research report on Wednesday, July 27th. Piper Sandler dropped their price objective on SmartFinancial to $30.00 in a research note on Monday, July 4th. StockNews.com lowered SmartFinancial from a "buy" rating to a "hold" rating in a research note on Monday, May 23rd. Finally, Raymond James lowered SmartFinancial from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $33.00 to $27.00 in a research note on Thursday, July 7th.
Insider Activity at SmartFinancial
In related news, EVP Rhett D. Jordan sold 1,200 shares of the firm's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $27.27, for a total transaction of $32,724.00. Following the sale, the executive vice president now owns 10,321 shares of the company's stock, valued at approximately $281,453.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.91% of the stock is currently owned by company insiders.SmartFinancial Price Performance
SmartFinancial stock traded down $0.68 during mid-day trading on Thursday, reaching $24.51. 1 shares of the company were exchanged, compared to its average volume of 18,180. The company has a fifty day simple moving average of $25.23 and a 200-day simple moving average of $25.22. The firm has a market cap of $414.22 million, a PE ratio of 11.94 and a beta of 0.71. SmartFinancial, Inc. has a 12 month low of $22.63 and a 12 month high of $28.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85.
SmartFinancial (NASDAQ:SMBK – Get Rating) last issued its earnings results on Monday, July 25th. The bank reported $0.61 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.04). The business had revenue of $40.29 million during the quarter, compared to analyst estimates of $40.47 million. SmartFinancial had a net margin of 21.34% and a return on equity of 8.85%. During the same period in the prior year, the business posted $0.60 EPS. As a group, equities research analysts expect that SmartFinancial, Inc. will post 2.62 earnings per share for the current fiscal year.
SmartFinancial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Friday, August 12th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was 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.
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