LeConte Wealth Management LLC acquired a new position in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 19,372 shares of the bank's stock, valued at approximately $602,000. SmartFinancial comprises 0.4% of LeConte Wealth Management LLC's holdings, making the stock its 26th biggest position. LeConte Wealth Management LLC owned about 0.11% of SmartFinancial at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in SmartFinancial by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 758,069 shares of the bank's stock worth $23,485,000 after buying an additional 32,418 shares during the last quarter. Wellington Management Group LLP grew its stake in SmartFinancial by 28.6% during the 4th quarter. Wellington Management Group LLP now owns 437,793 shares of the bank's stock worth $13,563,000 after buying an additional 97,375 shares during the last quarter. American Century Companies Inc. grew its stake in shares of SmartFinancial by 0.5% in the first quarter. American Century Companies Inc. now owns 276,458 shares of the bank's stock worth $8,592,000 after purchasing an additional 1,511 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of SmartFinancial by 2.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 127,177 shares of the bank's stock worth $3,940,000 after purchasing an additional 3,390 shares in the last quarter. Finally, Boothbay Fund Management LLC grew its stake in shares of SmartFinancial by 4.3% in the fourth quarter. Boothbay Fund Management LLC now owns 88,206 shares of the bank's stock worth $2,733,000 after purchasing an additional 3,675 shares in the last quarter. 58.78% of the stock is currently owned by institutional investors.
SmartFinancial Price Performance
SmartFinancial stock traded down $0.01 during midday trading on Wednesday, hitting $35.15. The company's stock had a trading volume of 23,126 shares, compared to its average volume of 54,007. 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's 50-day moving average price is $34.26 and its 200-day moving average price is $32.63. SmartFinancial, Inc. has a 12 month low of $26.31 and a 12 month high of $37.72. The company has a market capitalization of $598.25 million, a PE ratio of 16.43 and a beta of 0.76.
SmartFinancial (NASDAQ:SMBK - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The bank reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. SmartFinancial had a net margin of 12.67% and a return on equity of 7.33%. During the same period in the previous year, the firm earned $0.46 EPS. Analysts anticipate that SmartFinancial, Inc. will post 2.45 earnings per share for the current fiscal year.
SmartFinancial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be given a $0.08 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.32 annualized dividend and a yield of 0.9%. SmartFinancial's payout ratio is 12.96%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on SMBK shares. Hovde Group increased their price target on SmartFinancial from $37.50 to $40.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price target on SmartFinancial from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $44.00 price target (up from $42.00) on shares of SmartFinancial in a research note on Thursday, July 24th. Finally, Stephens reiterated an "equal weight" rating and issued a $31.00 price objective on shares of SmartFinancial in a report on Tuesday, April 22nd. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.25.
View Our Latest Research Report on SmartFinancial
About SmartFinancial
(
Free Report)
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.
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