Squarepoint Ops LLC Buys New Shares in SmartFinancial, Inc. (NASDAQ:SMBK)

Squarepoint Ops LLC bought a new position in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,948 shares of the bank's stock, valued at approximately $277,000. Squarepoint Ops LLC owned 0.05% of SmartFinancial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in SmartFinancial by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,091 shares of the bank's stock worth $282,000 after acquiring an additional 380 shares during the period. Trexquant Investment LP grew its holdings in shares of SmartFinancial by 1.8% during the fourth quarter. Trexquant Investment LP now owns 30,026 shares of the bank's stock valued at $930,000 after purchasing an additional 543 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SmartFinancial by 1.3% during the 4th 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 during the period. Tower Research Capital LLC TRC lifted its holdings in shares of SmartFinancial by 269.7% in the 4th 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 during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of SmartFinancial by 0.6% in the 4th 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 during the last quarter. 58.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stephens restated an "equal weight" rating and set a $31.00 price objective on shares of SmartFinancial in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods lowered their price target on shares of SmartFinancial from $37.00 to $35.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, SmartFinancial has a consensus rating of "Hold" and an average price target of $33.70.

SmartFinancial Stock Performance

Shares of NASDAQ SMBK traded up $0.25 during midday trading on Tuesday, hitting $32.74. 62,442 shares of the company's stock were exchanged, compared to its average volume of 53,174. SmartFinancial, Inc. has a twelve month low of $21.40 and a twelve month high of $37.72. The firm has a market cap of $557.20 million, a P/E ratio of 15.30 and a beta of 0.70. The stock's 50 day moving average price is $30.38 and its 200-day moving average price is $32.27. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Friday, May 2nd were given a $0.08 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. SmartFinancial's dividend payout ratio is presently 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.