7,910 Shares in SmartFinancial, Inc. (NASDAQ:SMBK) Acquired by CAP Partners LLC

CAP Partners LLC purchased a new stake in SmartFinancial, Inc. (NASDAQ:SMBK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,910 shares of the bank’s stock, valued at approximately $230,000.

Several other hedge funds have also added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in shares of SmartFinancial by 429.0% in the first quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank’s stock valued at $499,000 after purchasing an additional 19,210 shares during the last quarter. Russell Investments Group Ltd. grew its stake in SmartFinancial by 23.7% in the 1st quarter. Russell Investments Group Ltd. now owns 130,361 shares of the bank’s stock valued at $2,747,000 after buying an additional 24,979 shares during the last quarter. Vanguard Group Inc. raised its holdings in SmartFinancial by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 789,233 shares of the bank’s stock valued at $16,629,000 after acquiring an additional 19,490 shares during the period. Acadian Asset Management LLC acquired a new stake in SmartFinancial during the first quarter worth approximately $271,000. Finally, Bank of New York Mellon Corp lifted its position in SmartFinancial by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 96,021 shares of the bank’s stock worth $2,273,000 after acquiring an additional 3,810 shares during the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stephens reaffirmed an “overweight” rating and issued a $27.00 target price on shares of SmartFinancial in a research report on Tuesday, July 23rd. Raymond James upped their price objective on SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 23rd. Hovde Group lifted their target price on SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler cut shares of SmartFinancial from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $26.00 to $28.00 in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

SmartFinancial Stock Down 0.8 %

NASDAQ SMBK opened at $35.93 on Monday. The business has a fifty day moving average price of $31.11 and a two-hundred day moving average price of $27.08. The stock has a market capitalization of $608.15 million, a PE ratio of 18.52 and a beta of 0.67. SmartFinancial, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $37.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. SmartFinancial had a return on equity of 6.81% and a net margin of 11.88%. The business had revenue of $73.10 million during the quarter, compared to the consensus estimate of $42.32 million. During the same period in the prior year, the company earned $0.43 EPS. Equities analysts expect that SmartFinancial, Inc. will post 2.02 earnings per share for the current fiscal year.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. SmartFinancial’s payout ratio is currently 16.49%.

SmartFinancial Profile

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.