SmartFinancial (NASDAQ:SMBK) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.
Separately, Zacks Investment Research cut shares of SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 20th.
Shares of SmartFinancial (SMBK) opened at $23.01 on Tuesday. The stock has a market cap of $259.42, a PE ratio of 39.00 and a beta of 0.23. SmartFinancial has a 52-week low of $18.25 and a 52-week high of $26.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick ratio of 0.96.
In related news, Director James Beaumont Wicks purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was acquired at an average price of $21.85 per share, with a total value of $65,550.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven B. Tucker purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was bought at an average cost of $21.91 per share, with a total value of $219,100.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 28,000 shares of company stock valued at $610,150. 13.87% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of SMBK. State Street Corp acquired a new position in SmartFinancial in the second quarter valued at about $1,692,000. Northern Trust Corp acquired a new position in SmartFinancial in the second quarter valued at about $1,686,000. Vanguard Group Inc. raised its stake in SmartFinancial by 41.6% in the second quarter. Vanguard Group Inc. now owns 225,156 shares of the bank’s stock valued at $5,377,000 after purchasing an additional 66,143 shares in the last quarter. Victory Capital Management Inc. acquired a new position in SmartFinancial in the fourth quarter valued at about $1,042,000. Finally, Eidelman Virant Capital acquired a new position in SmartFinancial in the fourth quarter valued at about $954,000. 31.30% of the stock is owned by institutional investors and hedge funds.
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SmartFinancial Company Profile
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.
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