Victory Capital Management Inc. Grows Stock Holdings in SmartFinancial, Inc. (NASDAQ:SMBK)

Victory Capital Management Inc. increased its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,849 shares of the bank’s stock after acquiring an additional 1,349 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of SmartFinancial worth $928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in SmartFinancial by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 24,147 shares of the bank’s stock worth $572,000 after acquiring an additional 361 shares in the last quarter. Renaissance Technologies LLC raised its stake in SmartFinancial by 1.1% during the 2nd quarter. Renaissance Technologies LLC now owns 140,274 shares of the bank’s stock worth $3,320,000 after acquiring an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp raised its stake in SmartFinancial by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 96,021 shares of the bank’s stock worth $2,273,000 after acquiring an additional 3,810 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in SmartFinancial by 2.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 200,565 shares of the bank’s stock worth $4,747,000 after acquiring an additional 4,412 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in SmartFinancial during the 3rd quarter worth $161,000. 58.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SMBK. Raymond James lifted their price target on shares of SmartFinancial from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 23rd. Hovde Group lifted their price target on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

SmartFinancial Trading Down 1.0 %

NASDAQ SMBK opened at $36.24 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $613.54 million, a PE ratio of 18.87 and a beta of 0.67. SmartFinancial, Inc. has a one year low of $19.00 and a one year high of $37.72. The firm’s fifty day moving average is $32.13 and its two-hundred day moving average is $27.80.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The company had revenue of $73.10 million for the quarter, compared to analyst estimates of $42.32 million. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. During the same period in the previous year, the business posted $0.43 earnings per share. Analysts expect that SmartFinancial, Inc. will post 2.02 earnings per share for the current year.

SmartFinancial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Tuesday, November 12th. SmartFinancial’s payout ratio is 16.49%.

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.