M&T Bank Corp Reduces Holdings in Smith Douglas Homes Corp. (NYSE:SDHC)

M&T Bank Corp reduced its holdings in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 12.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,153 shares of the company’s stock after selling 1,402 shares during the quarter. M&T Bank Corp’s holdings in Smith Douglas Homes were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SDHC. Wasatch Advisors LP purchased a new stake in shares of Smith Douglas Homes during the third quarter worth about $8,104,000. Townsquare Capital LLC boosted its position in shares of Smith Douglas Homes by 39.4% in the third quarter. Townsquare Capital LLC now owns 46,371 shares of the company’s stock worth $1,752,000 after acquiring an additional 13,110 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Smith Douglas Homes by 31.2% in the third quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock worth $1,114,000 after acquiring an additional 7,015 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Smith Douglas Homes by 39.0% in the third quarter. Stifel Financial Corp now owns 26,074 shares of the company’s stock worth $985,000 after acquiring an additional 7,310 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Smith Douglas Homes by 1,551.9% in the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock worth $806,000 after acquiring an additional 20,051 shares during the last quarter.

Smith Douglas Homes Price Performance

NYSE SDHC opened at $19.64 on Friday. The company’s fifty day simple moving average is $23.02 and its 200-day simple moving average is $29.93. Smith Douglas Homes Corp. has a 52 week low of $19.00 and a 52 week high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $287.49 million during the quarter, compared to analyst estimates of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. On average, equities research analysts expect that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SDHC. JPMorgan Chase & Co. decreased their target price on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Bank of America cut shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $22.00 in a research report on Monday, January 27th. Finally, Wells Fargo & Company decreased their target price on shares of Smith Douglas Homes from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, Smith Douglas Homes presently has an average rating of “Hold” and a consensus target price of $24.80.

Smith Douglas Homes Profile

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.