Deprince Race & Zollo Inc. Sells 14,589 Shares of SmartFinancial, Inc. (NASDAQ:SMBK)

Deprince Race & Zollo Inc. decreased its position in SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 7.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 185,137 shares of the bank's stock after selling 14,589 shares during the quarter. Deprince Race & Zollo Inc. owned about 1.09% of SmartFinancial worth $5,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in SmartFinancial by 269.7% in 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. Aquatic Capital Management LLC acquired a new position in shares of SmartFinancial in the 4th quarter valued at about $104,000. Geneos Wealth Management Inc. bought a new stake in shares of SmartFinancial during the 4th quarter valued at about $192,000. Welch Group LLC acquired a new position in SmartFinancial in the fourth quarter valued at approximately $202,000. Finally, Ridgepath Capital Management LLC bought a new position in shares of SmartFinancial during the fourth quarter valued at approximately $202,000. 58.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SMBK shares. Stephens reaffirmed an "equal weight" rating and issued a $31.00 price target on shares of SmartFinancial in a research note on Tuesday, April 22nd. 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 report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lowered their price target on shares of SmartFinancial from $37.00 to $35.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $33.70.

SmartFinancial Price Performance

NASDAQ:SMBK traded up $0.06 during mid-day trading on Wednesday, reaching $31.88. The stock had a trading volume of 11,460 shares, compared to its average volume of 52,643. 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, Inc. has a 12 month low of $21.40 and a 12 month high of $37.72. The stock has a market capitalization of $542.53 million, a PE ratio of 14.90 and a beta of 0.71. The stock has a 50-day simple moving average of $30.13 and a two-hundred day simple moving average of $32.71.

SmartFinancial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, May 2nd. SmartFinancial's payout ratio is 14.16%.

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.