Russell Investments Group Ltd. Has $4.03 Million Stock Holdings in SmartFinancial, Inc. (NASDAQ:SMBK)

Russell Investments Group Ltd. trimmed its position in shares of SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,194 shares of the bank's stock after selling 24,195 shares during the period. Russell Investments Group Ltd. owned about 0.77% of SmartFinancial worth $4,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SMBK. Trexquant Investment LP raised its holdings in shares of SmartFinancial by 1.8% during the 4th quarter. Trexquant Investment LP now owns 30,026 shares of the bank's stock valued at $930,000 after purchasing an additional 543 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of SmartFinancial by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,448 shares of the bank's stock worth $1,377,000 after buying an additional 550 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of SmartFinancial by 6.9% during the 3rd quarter. Jane Street Group LLC now owns 14,925 shares of the bank's stock worth $435,000 after acquiring an additional 967 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of SmartFinancial by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 208,193 shares of the bank's stock valued at $6,450,000 after acquiring an additional 1,230 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of SmartFinancial by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 335,501 shares of the bank's stock valued at $9,779,000 after acquiring an additional 1,307 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Wesley Miller Welborn acquired 1,162 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of $34.75 per share, with a total value of $40,379.50. Following the acquisition, the chairman now owns 96,938 shares of the company's stock, valued at $3,368,595.50. This trade represents a 1.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.68% of the company's stock.

SmartFinancial Stock Performance

NASDAQ SMBK traded down $0.53 during trading on Monday, hitting $28.35. The company's stock had a trading volume of 46,165 shares, compared to its average volume of 52,956. SmartFinancial, Inc. has a 52 week low of $19.66 and a 52 week 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. The firm has a market cap of $482.46 million, a P/E ratio of 13.25 and a beta of 0.59. The firm has a 50 day moving average price of $31.44 and a 200 day moving average price of $32.69.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, January 31st. SmartFinancial's dividend payout ratio (DPR) is presently 14.95%.

Wall Street Analysts Forecast Growth

Separately, Raymond James reiterated a "strong-buy" rating and set a $42.00 price target (up previously from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SmartFinancial has an average rating of "Hold" and an average target price of $30.70.

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.