SmartFinancial, Inc. (NASDAQ:SMBK) Shares Sold by Banc Funds Co. LLC

Banc Funds Co. LLC reduced its position in SmartFinancial, Inc. (NASDAQ:SMBK) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 514,713 shares of the bank’s stock after selling 46,185 shares during the period. SmartFinancial comprises about 1.6% of Banc Funds Co. LLC’s portfolio, making the stock its 20th biggest holding. Banc Funds Co. LLC’s holdings in SmartFinancial were worth $14,999,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank raised its position in shares of SmartFinancial by 5,269.2% in the third quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock worth $41,000 after acquiring an additional 1,370 shares during the period. SG Americas Securities LLC acquired a new position in SmartFinancial in the 3rd quarter worth about $161,000. CAP Partners LLC purchased a new position in SmartFinancial during the third quarter worth approximately $230,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SmartFinancial in the third quarter valued at approximately $334,000. Finally, Creative Planning purchased a new stake in shares of SmartFinancial in the third quarter valued at approximately $394,000. 58.78% of the stock is owned by hedge funds and other institutional investors.

SmartFinancial Stock Up 0.1 %

NASDAQ SMBK opened at $36.26 on Monday. The business has a fifty day moving average price of $32.51 and a 200 day moving average price of $28.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $613.88 million, a P/E ratio of 18.69 and a beta of 0.67. SmartFinancial, Inc. has a one year low of $19.00 and a one year high of $37.72.

SmartFinancial (NASDAQ:SMBK) last issued its earnings results on Monday, October 21st. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The business had revenue of $73.10 million during the quarter, compared to analysts’ expectations of $42.32 million. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. During the same period in the prior year, the business earned $0.43 earnings per share. Research analysts anticipate that SmartFinancial, Inc. will post 2.02 EPS for the current fiscal year.

SmartFinancial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Tuesday, November 12th. SmartFinancial’s dividend payout ratio is currently 16.49%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SMBK. Raymond James lifted their price target on shares of SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 23rd. Hovde Group lifted their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.50.

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.