Cravens & Co Advisors LLC Sells 3,135 Shares of SmartFinancial, Inc. (NASDAQ:SMBK)

Cravens & Co Advisors LLC trimmed its stake in SmartFinancial, Inc. (NASDAQ:SMBK) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 448,357 shares of the bank’s stock after selling 3,135 shares during the quarter. SmartFinancial comprises 10.6% of Cravens & Co Advisors LLC’s portfolio, making the stock its largest holding. Cravens & Co Advisors LLC’s holdings in SmartFinancial were worth $13,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in shares of SmartFinancial by 28.6% during the fourth quarter. Wellington Management Group LLP now owns 437,793 shares of the bank’s stock worth $13,563,000 after acquiring an additional 97,375 shares in the last quarter. State Street Corp boosted its position in shares of SmartFinancial by 3.3% during the third quarter. State Street Corp now owns 336,147 shares of the bank’s stock worth $9,795,000 after purchasing an additional 10,623 shares in the last quarter. Geode Capital Management LLC raised its stake in SmartFinancial by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock worth $9,779,000 after buying an additional 1,307 shares during the period. American Century Companies Inc. lifted its stake in SmartFinancial by 17.1% in the fourth quarter. American Century Companies Inc. now owns 274,947 shares of the bank’s stock valued at $8,518,000 after buying an additional 40,104 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of SmartFinancial by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 208,193 shares of the bank’s stock worth $6,450,000 after acquiring an additional 1,230 shares in the last quarter. 58.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Raymond James reiterated a “strong-buy” rating and set a $42.00 price objective (up previously from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.70.

Insiders Place Their Bets

In related news, Chairman Wesley Miller Welborn purchased 1,162 shares of the stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost of $34.75 per share, for a total transaction of $40,379.50. Following the completion of the acquisition, the chairman now owns 96,938 shares of the company’s stock, valued at approximately $3,368,595.50. This represents a 1.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.68% of the company’s stock.

SmartFinancial Stock Up 1.1 %

SMBK stock opened at $28.18 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $479.64 million, a price-to-earnings ratio of 13.17 and a beta of 0.59. SmartFinancial, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $37.72. The business’s fifty day moving average price is $32.03 and its two-hundred day moving average price is $32.66.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, January 31st. SmartFinancial’s dividend payout ratio (DPR) is presently 14.95%.

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.