SmartFinancial, Inc. (NASDAQ:SMBK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in SmartFinancial, Inc. (NASDAQ:SMBKFree Report) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 69,961 shares of the bank’s stock after selling 840 shares during the period. Bank of New York Mellon Corp’s holdings in SmartFinancial were worth $1,495,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in SmartFinancial in the 3rd quarter worth approximately $159,000. Tennessee Valley Asset Management Partners purchased a new stake in SmartFinancial in the 3rd quarter worth approximately $273,000. SlateStone Wealth LLC purchased a new stake in SmartFinancial in the 3rd quarter worth approximately $463,000. Alliancebernstein L.P. grew its stake in SmartFinancial by 40.0% in the 2nd quarter. Alliancebernstein L.P. now owns 211,631 shares of the bank’s stock worth $4,552,000 after acquiring an additional 60,415 shares during the period. Finally, Wells Fargo & Company MN grew its stake in SmartFinancial by 119.0% in the 2nd quarter. Wells Fargo & Company MN now owns 6,041 shares of the bank’s stock worth $130,000 after acquiring an additional 3,282 shares during the period. 49.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SMBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of SmartFinancial from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Stephens reiterated an “overweight” rating and issued a $27.00 price target on shares of SmartFinancial in a report on Tuesday, January 23rd. StockNews.com upgraded shares of SmartFinancial from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. TheStreet upgraded shares of SmartFinancial from a “c+” rating to a “b-” rating in a report on Friday, November 17th. Finally, Raymond James boosted their target price on shares of SmartFinancial from $24.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SmartFinancial has an average rating of “Moderate Buy” and a consensus price target of $26.50.

View Our Latest Stock Report on SMBK

Insiders Place Their Bets

In other SmartFinancial news, Director John M. Presley sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $21.34, for a total value of $320,100.00. Following the completion of the transaction, the director now owns 42,573 shares in the company, valued at approximately $908,507.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.80% of the stock is owned by insiders.

SmartFinancial Price Performance

Shares of NASDAQ:SMBK opened at $21.53 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. SmartFinancial, Inc. has a fifty-two week low of $18.86 and a fifty-two week high of $28.00. The firm has a 50-day simple moving average of $23.58 and a 200 day simple moving average of $22.77. The company has a market cap of $366.01 million, a PE ratio of 12.74 and a beta of 0.72.

SmartFinancial (NASDAQ:SMBKGet Free Report) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). SmartFinancial had a net margin of 11.90% and a return on equity of 7.73%. The business had revenue of $65.07 million for the quarter, compared to the consensus estimate of $39.14 million. During the same period in the prior year, the company earned $0.76 EPS. On average, sell-side analysts anticipate that SmartFinancial, Inc. will post 1.91 EPS for the current year.

SmartFinancial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, February 1st. SmartFinancial’s dividend payout ratio (DPR) is 18.93%.

About SmartFinancial

(Free Report)

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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Institutional Ownership by Quarter for SmartFinancial (NASDAQ:SMBK)

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