Bailard Inc. Invests $386,000 in SmartFinancial, Inc. (NASDAQ:SMBK)

Bailard Inc. purchased a new position in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,415 shares of the bank's stock, valued at approximately $386,000. Bailard Inc. owned about 0.07% of SmartFinancial at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SMBK. Tower Research Capital LLC TRC lifted its holdings in SmartFinancial by 269.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank's stock worth $48,000 after buying an additional 1,122 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of SmartFinancial by 19,400.0% in the 1st quarter. GAMMA Investing LLC now owns 2,145 shares of the bank's stock valued at $69,000 after purchasing an additional 2,134 shares during the last quarter. CWM LLC lifted its holdings in shares of SmartFinancial by 282.9% in the 1st quarter. CWM LLC now owns 2,489 shares of the bank's stock valued at $77,000 after purchasing an additional 1,839 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of SmartFinancial in the 4th quarter valued at about $104,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of SmartFinancial in the 4th quarter valued at about $124,000. 58.78% of the stock is owned by hedge funds and other institutional investors.

SmartFinancial Stock Performance

SMBK traded up $0.17 on Friday, hitting $36.22. 61,903 shares of the company traded hands, compared to its average volume of 55,216. The company has a 50 day moving average of $33.02 and a 200-day moving average of $32.30. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $616.34 million, a PE ratio of 16.92 and a beta of 0.70. SmartFinancial, Inc. has a 12-month low of $25.58 and a 12-month high of $37.72.

SmartFinancial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.88%. The ex-dividend date was Friday, May 2nd. SmartFinancial's dividend payout ratio is presently 14.16%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stephens reissued an "equal weight" rating and issued a $31.00 target price on shares of SmartFinancial in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their target price on SmartFinancial from $37.00 to $35.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $33.70.

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.