Cubist Systematic Strategies LLC Acquires New Stake in SmartFinancial, Inc. (NASDAQ:SMBK)

Cubist Systematic Strategies LLC acquired a new stake in SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,515 shares of the bank's stock, valued at approximately $419,000. Cubist Systematic Strategies LLC owned 0.08% of SmartFinancial as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trexquant Investment LP boosted its holdings in SmartFinancial by 1.8% in the fourth quarter. Trexquant Investment LP now owns 30,026 shares of the bank's stock valued at $930,000 after acquiring an additional 543 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of SmartFinancial by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,448 shares of the bank's stock worth $1,377,000 after purchasing an additional 550 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of SmartFinancial by 269.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank's stock worth $48,000 after purchasing an additional 1,122 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of SmartFinancial by 0.6% during the fourth quarter. Alliancebernstein L.P. now owns 208,193 shares of the bank's stock worth $6,450,000 after purchasing an additional 1,230 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of SmartFinancial by 32.1% during the fourth quarter. SG Americas Securities LLC now owns 7,292 shares of the bank's stock worth $226,000 after purchasing an additional 1,771 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company's stock.

SmartFinancial Price Performance

Shares of NASDAQ:SMBK traded down $0.15 on Thursday, reaching $31.21. 2,054 shares of the company traded hands, compared to its average volume of 52,959. SmartFinancial, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $37.72. The company's 50 day moving average is $30.23 and its 200-day moving average is $32.67. The stock has a market capitalization of $531.13 million, a PE ratio of 14.58 and a beta of 0.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90.

SmartFinancial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Friday, May 2nd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, May 2nd. SmartFinancial's payout ratio is 14.16%.

Wall Street Analyst Weigh In

SMBK has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on SmartFinancial from $37.00 to $35.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Raymond James reiterated a "strong-buy" rating and issued a $42.00 price target (up previously from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Finally, Stephens reissued an "equal weight" rating and issued a $31.00 price objective on shares of SmartFinancial in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $33.70.

SmartFinancial Company Profile

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.