Two Sigma Investments LP Has $958,000 Holdings in SmartFinancial, Inc. (NASDAQ:SMBK)

Two Sigma Investments LP boosted its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 91.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,938 shares of the bank's stock after purchasing an additional 14,810 shares during the period. Two Sigma Investments LP owned about 0.18% of SmartFinancial worth $958,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in shares of SmartFinancial by 269.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank's stock valued at $48,000 after buying an additional 1,122 shares during the period. Aquatic Capital Management LLC acquired a new stake in SmartFinancial during the fourth quarter valued at $104,000. SG Americas Securities LLC boosted its position in SmartFinancial by 32.1% during the fourth quarter. SG Americas Securities LLC now owns 7,292 shares of the bank's stock valued at $226,000 after purchasing an additional 1,771 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in SmartFinancial by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,091 shares of the bank's stock valued at $282,000 after purchasing an additional 380 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in SmartFinancial by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,331 shares of the bank's stock worth $289,000 after purchasing an additional 2,031 shares during the last quarter. 58.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SMBK shares. Keefe, Bruyette & Woods reduced their price target on SmartFinancial from $37.00 to $35.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Stephens reaffirmed an "equal weight" rating and set a $31.00 price objective on shares of SmartFinancial in a research report on Tuesday, April 22nd. Four research 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 an average rating of "Hold" and an average price target of $33.70.

SmartFinancial Stock Up 0.8%

Shares of NASDAQ:SMBK traded up $0.25 on Tuesday, reaching $32.74. The company had a trading volume of 62,442 shares, compared to its average volume of 53,174. The stock has a market capitalization of $557.20 million, a P/E ratio of 15.30 and a beta of 0.70. The stock has a 50-day moving average price of $30.38 and a 200 day moving average price of $32.27. SmartFinancial, Inc. has a twelve month low of $21.40 and a twelve month high of $37.72. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Friday, May 2nd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, May 2nd. SmartFinancial's dividend payout ratio is currently 14.16%.

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.