SmartFinancial, Inc. (NASDAQ:SMBK) Shares Sold by Private Capital Management LLC

Private Capital Management LLC reduced its position in SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 522,676 shares of the bank's stock after selling 35,069 shares during the period. SmartFinancial accounts for about 1.7% of Private Capital Management LLC's holdings, making the stock its 22nd biggest holding. Private Capital Management LLC owned 3.09% of SmartFinancial worth $16,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in 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 acquiring an additional 1,122 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in SmartFinancial during the 4th quarter valued at $104,000. Geneos Wealth Management Inc. acquired a new stake in SmartFinancial during the 4th quarter valued at $192,000. Welch Group LLC acquired a new stake in SmartFinancial during the 4th quarter valued at $202,000. Finally, Ridgepath Capital Management LLC acquired a new stake in shares of SmartFinancial during the fourth quarter worth $202,000. 58.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SMBK shares. Raymond James reaffirmed a "strong-buy" rating and issued a $42.00 target price (up from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods cut their price objective on SmartFinancial from $37.00 to $35.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. Finally, Stephens reissued an "equal weight" rating and issued a $31.00 price objective on shares of SmartFinancial in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $33.70.

SmartFinancial Stock Up 0.5%

NASDAQ:SMBK traded up $0.18 during mid-day trading on Friday, hitting $32.58. The company had a trading volume of 81,722 shares, compared to its average volume of 53,142. The business has a fifty day simple moving average of $30.18 and a 200-day simple moving average of $32.69. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial, Inc. has a 1 year low of $21.40 and a 1 year high of $37.72. The firm has a market capitalization of $554.38 million, a price-to-earnings ratio of 15.22 and a beta of 0.71.

SmartFinancial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Friday, May 2nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.98%. The ex-dividend date is Friday, May 2nd. SmartFinancial's dividend payout ratio (DPR) is presently 14.16%.

SmartFinancial 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.