Quantinno Capital Management LP Acquires 9,869 Shares of SmartFinancial, Inc. $SMBK

Quantinno Capital Management LP lifted its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) by 90.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,794 shares of the bank’s stock after purchasing an additional 9,869 shares during the quarter. Quantinno Capital Management LP’s holdings in SmartFinancial were worth $813,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SMBK. First Eagle Investment Management LLC raised its holdings in shares of SmartFinancial by 375.5% in the 4th quarter. First Eagle Investment Management LLC now owns 152,167 shares of the bank’s stock valued at $5,629,000 after acquiring an additional 120,167 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of SmartFinancial by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 728,151 shares of the bank’s stock valued at $26,934,000 after purchasing an additional 80,639 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of SmartFinancial by 55.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 163,240 shares of the bank’s stock valued at $6,038,000 after buying an additional 58,560 shares during the last quarter. Algebris UK Ltd. bought a new position in SmartFinancial during the 4th quarter worth approximately $2,158,000. Finally, North Reef Capital Management LP grew its holdings in shares of SmartFinancial by 59.5% in the fourth quarter. North Reef Capital Management LP now owns 134,871 shares of the bank’s stock worth $4,989,000 after purchasing an additional 50,301 shares during the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

Insider Activity

In other news, Director Victor Lynn Barrett bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were bought at an average cost of $43.78 per share, for a total transaction of $131,340.00. Following the completion of the transaction, the director owned 151,724 shares of the company’s stock, valued at approximately $6,642,476.72. This represents a 2.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Cathy G. Ackermann purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $42.12 per share, with a total value of $126,360.00. Following the completion of the purchase, the director owned 19,831 shares of the company’s stock, valued at $835,281.72. The trade was a 17.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.93% of the company’s stock.

SmartFinancial Price Performance

SMBK stock opened at $51.99 on Tuesday. The company has a market capitalization of $888.93 million, a PE ratio of 24.29 and a beta of 0.69. SmartFinancial, Inc. has a one year low of $33.01 and a one year high of $54.14. 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 company’s fifty day moving average price is $48.45 and its 200-day moving average price is $43.44.

SmartFinancial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, July 31st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, July 31st. SmartFinancial’s payout ratio is 10.62%.

Wall Street Analyst Weigh In

Several analysts have weighed in on SMBK shares. Benchmark lifted their price objective on SmartFinancial from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of SmartFinancial from $46.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, July 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $58.00 price target on shares of SmartFinancial in a report on Wednesday, July 22nd. Finally, Stephens lifted their price objective on SmartFinancial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, SmartFinancial currently has an average rating of “Moderate Buy” and a consensus price target of $49.75.

About SmartFinancial

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.