SmartFinancial, Inc. $SMBK Shares Newly Purchased by Rosenthal Henry Capital Advisors Inc.

Key Points

• Rosenthal Henry Capital Advisors purchased 21,250 SmartFinancial shares worth approximately $1.05 million, giving it a roughly 0.12% stake. Institutional investors and hedge funds collectively own 58.78% of the stock.
• Analysts maintain a generally positive outlook, with SmartFinancial carrying a “Moderate Buy” consensus rating and an average price target of $52.60. Recent target changes ranged from $47 to $60.
• SmartFinancial shares opened at $48.52, compared with a 12-month range of $34.22 to $54.14. Director Steven Tucker recently sold 3,500 shares at an average price of $49.50, while insiders own 6.93% of the company.

Rosenthal Henry Capital Advisors Inc. bought a new position in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,250 shares of the bank's stock, valued at approximately $1,053,000. Rosenthal Henry Capital Advisors Inc. owned approximately 0.12% of SmartFinancial as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in SmartFinancial by 1,374.1% in the third quarter. Farther Finance Advisors LLC now owns 855 shares of the bank's stock valued at $42,000 after purchasing an additional 797 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of SmartFinancial by 3,096.3% during the 3rd quarter. Fortitude Family Office LLC now owns 863 shares of the bank's stock worth $43,000 after purchasing an additional 836 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of SmartFinancial during the 2nd quarter worth approximately $47,000. USA Financial Formulas bought a new stake in shares of SmartFinancial during the 3rd quarter worth approximately $48,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of SmartFinancial by 13.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,708 shares of the bank's stock valued at $106,000 after buying an additional 316 shares during the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SmartFinancial

In other SmartFinancial news, Director Steven Tucker sold 3,500 shares of the firm's stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $49.50, for a total transaction of $173,250.00. Following the completion of the sale, the director owned 47,222 shares of the company's stock, valued at $2,337,489. This trade represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 4,360 shares of company stock worth $217,864. Company insiders own 6.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SMBK shares. Keefe, Bruyette & Woods boosted their target price on shares of SmartFinancial from $51.00 to $52.00 and gave the stock a "market perform" rating in a report on Wednesday, October 21st. Stephens lifted their price objective on shares of SmartFinancial from $45.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Raymond James Financial downgraded shares of SmartFinancial from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $58.00 to $56.00 in a research report on Wednesday, October 21st. Finally, Benchmark boosted their price objective on shares of SmartFinancial from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.60.

SmartFinancial Stock Performance

SMBK opened at $48.52 on Thursday. SmartFinancial, Inc. has a 12-month low of $34.22 and a 12-month high of $54.14. The stock has a market cap of $829.66 million, a price-to-earnings ratio of 22.67 and a beta of 0.71. The business has a 50 day moving average of $50.58 and a 200-day moving average of $45.03. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

About SmartFinancial

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, and the parent company of SmartBank. Through SmartBank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

SmartBank's products and services include checking and savings accounts, certificates of deposit, consumer and commercial lending, residential mortgages, treasury management and online and mobile banking. The bank also offers wealth management and insurance-related services through affiliated or specialized business lines.

Founded in 2007, SmartBank has expanded its presence across markets in Tennessee, Alabama and Florida.

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