SG Americas Securities LLC Makes New $161,000 Investment in SmartFinancial, Inc. (NASDAQ:SMBK)

SG Americas Securities LLC purchased a new position in SmartFinancial, Inc. (NASDAQ:SMBK) during the third quarter, HoldingsChannel.com reports. The fund purchased 5,521 shares of the bank’s stock, valued at approximately $161,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mendon Capital Advisors Corp raised its position in shares of SmartFinancial by 5,760.9% during the 2nd quarter. Mendon Capital Advisors Corp now owns 66,990 shares of the bank’s stock worth $1,586,000 after purchasing an additional 65,847 shares during the period. Foundry Partners LLC increased its holdings in shares of SmartFinancial by 41.7% in the 1st quarter. Foundry Partners LLC now owns 150,870 shares of the bank’s stock worth $3,179,000 after acquiring an additional 44,407 shares during the period. Acadian Asset Management LLC lifted its position in SmartFinancial by 320.7% in the 2nd quarter. Acadian Asset Management LLC now owns 54,574 shares of the bank’s stock valued at $1,289,000 after purchasing an additional 41,602 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in SmartFinancial by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 699,794 shares of the bank’s stock valued at $16,563,000 after purchasing an additional 35,054 shares during the period. Finally, American Century Companies Inc. grew its position in SmartFinancial by 16.9% in the 2nd quarter. American Century Companies Inc. now owns 183,751 shares of the bank’s stock worth $4,349,000 after purchasing an additional 26,583 shares during the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.

SmartFinancial Stock Up 0.7 %

Shares of SMBK stock opened at $32.35 on Friday. SmartFinancial, Inc. has a 1 year low of $19.00 and a 1 year high of $32.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90. The business’s fifty day moving average is $29.17 and its 200-day moving average is $25.42. The stock has a market cap of $551.99 million, a PE ratio of 20.74 and a beta of 0.69.

SmartFinancial (NASDAQ:SMBK) last released its earnings results on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. The firm had revenue of $73.10 million for the quarter, compared to analyst estimates of $42.32 million. During the same period in the previous year, the company earned $0.43 earnings per share. Equities analysts expect that SmartFinancial, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

SmartFinancial Company 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.