Private Capital Management LLC Trims Stake in SmartFinancial, Inc. (NASDAQ:SMBK)

Private Capital Management LLC cut its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 522,676 shares of the bank’s stock after selling 35,069 shares during the quarter. SmartFinancial makes up approximately 1.7% of Private Capital Management LLC’s holdings, making the stock its 22nd biggest holding. Private Capital Management LLC owned about 3.09% of SmartFinancial worth $16,192,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of SmartFinancial by 269.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank’s stock worth $48,000 after acquiring an additional 1,122 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of SmartFinancial during the fourth quarter worth approximately $104,000. Geneos Wealth Management Inc. bought a new position in shares of SmartFinancial during the fourth quarter valued at approximately $192,000. Welch Group LLC bought a new position in shares of SmartFinancial during the fourth quarter valued at approximately $202,000. Finally, Ridgepath Capital Management LLC bought a new position in shares of SmartFinancial during the fourth quarter valued at approximately $202,000. 58.78% of the stock is owned by hedge funds and other institutional investors.

SmartFinancial Stock Performance

Shares of SMBK opened at $31.87 on Thursday. SmartFinancial, Inc. has a 12 month low of $21.40 and a 12 month high of $37.72. The stock has a fifty day moving average price of $30.13 and a 200-day moving average price of $32.71. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The firm has a market cap of $542.36 million, a PE ratio of 14.89 and a beta of 0.71.

SmartFinancial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. SmartFinancial’s dividend payout ratio is presently 14.16%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SMBK shares. Stephens reiterated an “equal weight” rating and set a $31.00 price objective on shares of SmartFinancial in a research note on Tuesday, April 22nd. Raymond James reiterated a “strong-buy” rating and set a $42.00 price objective (up from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of SmartFinancial from $37.00 to $35.00 and set a “market perform” rating on the stock in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.70.

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.