Victory Capital Management Inc. Raises Position in SmartFinancial, Inc. (NASDAQ:SMBK)

Victory Capital Management Inc. grew its position in SmartFinancial, Inc. (NASDAQ:SMBK) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,849 shares of the bank’s stock after acquiring an additional 1,349 shares during the period. Victory Capital Management Inc.’s holdings in SmartFinancial were worth $928,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in SmartFinancial by 2.5% during the first quarter. Vanguard Group Inc. now owns 789,233 shares of the bank’s stock worth $16,629,000 after buying an additional 19,490 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in SmartFinancial by 320.7% during the second quarter. Acadian Asset Management LLC now owns 54,574 shares of the bank’s stock worth $1,289,000 after buying an additional 41,602 shares in the last quarter. American Century Companies Inc. boosted its holdings in SmartFinancial by 16.9% during the second quarter. American Century Companies Inc. now owns 183,751 shares of the bank’s stock worth $4,349,000 after buying an additional 26,583 shares in the last quarter. Mendon Capital Advisors Corp boosted its holdings in SmartFinancial by 5,760.9% during the second quarter. Mendon Capital Advisors Corp now owns 66,990 shares of the bank’s stock worth $1,586,000 after buying an additional 65,847 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in SmartFinancial by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 96,021 shares of the bank’s stock worth $2,273,000 after buying an additional 3,810 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

SmartFinancial Stock Down 1.0 %

Shares of NASDAQ SMBK opened at $36.24 on Thursday. SmartFinancial, Inc. has a 12-month low of $19.00 and a 12-month high of $37.72. The company has a market capitalization of $613.54 million, a PE ratio of 18.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day moving average is $32.13 and its two-hundred day moving average is $27.80.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.54 earnings per share 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 analyst estimates of $42.32 million. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. During the same quarter in the previous year, the business posted $0.43 earnings per share. Equities analysts anticipate that SmartFinancial, Inc. will post 2.02 EPS for the current fiscal year.

SmartFinancial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Tuesday, November 12th. SmartFinancial’s dividend payout ratio is presently 16.49%.

Analyst Upgrades and Downgrades

SMBK has been the topic of a number of research analyst reports. Raymond James boosted their price objective on shares of SmartFinancial from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 23rd. Hovde Group upped their price target on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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.