29,586 Shares in SmartFinancial, Inc. (NASDAQ:SMBK) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 29,586 shares of the bank’s stock, valued at approximately $917,000. Proficio Capital Partners LLC owned approximately 0.17% of SmartFinancial at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SMBK. Geneos Wealth Management Inc. purchased a new stake in SmartFinancial in the 4th quarter worth about $192,000. Ridgepath Capital Management LLC bought a new stake in SmartFinancial in the fourth quarter valued at approximately $202,000. Welch Group LLC bought a new stake in SmartFinancial in the fourth quarter valued at approximately $202,000. Jacobs Levy Equity Management Inc. bought a new position in shares of SmartFinancial during the third quarter valued at approximately $226,000. Finally, SG Americas Securities LLC raised its holdings in SmartFinancial by 32.1% in the fourth quarter. SG Americas Securities LLC now owns 7,292 shares of the bank’s stock worth $226,000 after purchasing an additional 1,771 shares in the last quarter. 58.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SMBK. Stephens cut SmartFinancial from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Raymond James reissued 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. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SmartFinancial presently has an average rating of “Hold” and a consensus price target of $30.70.

Insiders Place Their Bets

In other SmartFinancial news, Chairman Wesley Miller Welborn purchased 1,162 shares of SmartFinancial stock in a transaction that occurred on Monday, February 3rd. The stock was 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.68% of the stock is currently owned by insiders.

SmartFinancial Trading Down 1.3 %

SMBK opened at $31.13 on Friday. The firm has a market cap of $526.91 million, a price-to-earnings ratio of 14.55 and a beta of 0.67. The stock has a fifty day moving average price of $33.74 and a 200-day moving average price of $32.61. SmartFinancial, Inc. has a 12 month low of $19.00 and a 12 month high of $37.72. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, January 31st. SmartFinancial’s payout ratio is currently 14.95%.

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.