5,521 Shares in SmartFinancial, Inc. (NASDAQ:SMBK) Purchased by SG Americas Securities LLC

SG Americas Securities LLC bought a new stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,521 shares of the bank’s stock, valued at approximately $161,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of SmartFinancial by 2.5% in the first quarter. Vanguard Group Inc. now owns 789,233 shares of the bank’s stock valued at $16,629,000 after acquiring an additional 19,490 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SmartFinancial by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 699,794 shares of the bank’s stock valued at $16,563,000 after purchasing an additional 35,054 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in SmartFinancial by 2.2% during the second quarter. Deprince Race & Zollo Inc. now owns 200,565 shares of the bank’s stock valued at $4,747,000 after acquiring an additional 4,412 shares during the period. American Century Companies Inc. grew its holdings in shares of SmartFinancial by 16.9% during the 2nd quarter. American Century Companies Inc. now owns 183,751 shares of the bank’s stock worth $4,349,000 after purchasing an additional 26,583 shares during the period. Finally, Foundry Partners LLC grew its stake in SmartFinancial by 41.7% during the first quarter. Foundry Partners LLC now owns 150,870 shares of the bank’s stock worth $3,179,000 after buying an additional 44,407 shares during the period. Institutional investors and hedge funds own 58.78% of the company’s stock.

SmartFinancial Price Performance

Shares of SMBK stock opened at $32.35 on Friday. The firm has a fifty day moving average of $29.17 and a two-hundred day moving average of $25.42. The firm has a market cap of $551.99 million, a P/E ratio of 20.74 and a beta of 0.69. SmartFinancial, Inc. has a 1-year low of $19.00 and a 1-year high of $32.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The business had revenue of $73.10 million during the quarter, compared to the consensus estimate of $42.32 million. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. During the same period last year, the firm earned $0.43 earnings per share. As a group, research analysts anticipate that SmartFinancial, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on SMBK shares. Stephens reissued an “overweight” rating and issued a $27.00 price objective on shares of SmartFinancial in a research report on Tuesday, July 23rd. Piper Sandler downgraded shares of SmartFinancial from an “overweight” rating to a “neutral” rating and upped their target price for the company from $26.00 to $28.00 in a research note on Wednesday, July 24th. Hovde Group boosted their price objective on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Raymond James raised their target price on SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

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.