Wasatch Advisors Inc. Raises Position in SmartFinancial Inc (SMBK)

Wasatch Advisors Inc. boosted its holdings in SmartFinancial Inc (NASDAQ:SMBK) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,330 shares of the bank’s stock after buying an additional 10,000 shares during the quarter. Wasatch Advisors Inc.’s holdings in SmartFinancial were worth $2,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in SmartFinancial by 22.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 13,498 shares of the bank’s stock valued at $325,000 after buying an additional 2,501 shares during the last quarter. Bank of New York Mellon Corp increased its position in SmartFinancial by 12.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 28,780 shares of the bank’s stock valued at $693,000 after purchasing an additional 3,233 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in SmartFinancial during the 2nd quarter valued at approximately $177,000. New York State Common Retirement Fund acquired a new stake in SmartFinancial during the 2nd quarter valued at approximately $184,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in SmartFinancial during the 2nd quarter valued at approximately $304,000. Institutional investors and hedge funds own 39.79% of the company’s stock.

Separately, Zacks Investment Research raised shares of SmartFinancial from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Saturday, January 13th.

Shares of SmartFinancial Inc (NASDAQ:SMBK) opened at $22.78 on Friday. The firm has a market cap of $184.08, a P/E ratio of 28.12 and a beta of 0.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.04. SmartFinancial Inc has a 52-week low of $18.25 and a 52-week high of $26.26.

SmartFinancial (NASDAQ:SMBK) last released its earnings results on Monday, October 30th. The bank reported $0.20 earnings per share for the quarter. SmartFinancial had a net margin of 13.22% and a return on equity of 5.19%. equities research analysts forecast that SmartFinancial Inc will post 0.84 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was posted by Ticker Report and is owned by of Ticker Report. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/3147464/wasatch-advisors-inc-raises-position-in-smartfinancial-inc-smbk.html.

About SmartFinancial

SmartFinancial, Inc, formerly Cornerstone Bancshares, Inc, is a bank holding company. The Company operates through its SmartBank subsidiary (The Bank). The principal business of the Bank consists of attracting deposits from the public and investing those funds, together with funds generated from operations and from principal and interest payments on loans.

Want to see what other hedge funds are holding SMBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SmartFinancial Inc (NASDAQ:SMBK).

Institutional Ownership by Quarter for SmartFinancial (NASDAQ:SMBK)

Receive News & Ratings for SmartFinancial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SmartFinancial and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.