Martingale Asset Management L P Has $881,000 Position in SmartFinancial, Inc. (NASDAQ:SMBK)

Martingale Asset Management L P lowered its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBKGet Rating) by 15.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 36,452 shares of the bank’s stock after selling 6,779 shares during the period. Martingale Asset Management L P owned approximately 0.22% of SmartFinancial worth $881,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of SmartFinancial by 10.1% during the second quarter. Russell Investments Group Ltd. now owns 49,104 shares of the bank’s stock valued at $1,185,000 after buying an additional 4,517 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. raised its position in SmartFinancial by 16.7% in the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 148,160 shares of the bank’s stock worth $3,790,000 after purchasing an additional 21,214 shares in the last quarter. Forest Hill Capital LLC raised its position in SmartFinancial by 4.9% in the first quarter. Forest Hill Capital LLC now owns 266,628 shares of the bank’s stock worth $6,820,000 after purchasing an additional 12,480 shares in the last quarter. Salzhauer Michael raised its position in SmartFinancial by 3.5% in the first quarter. Salzhauer Michael now owns 143,527 shares of the bank’s stock worth $3,671,000 after purchasing an additional 4,914 shares in the last quarter. Finally, Coulter & Justus Financial Services LLC acquired a new position in SmartFinancial in the first quarter worth about $290,000. Institutional investors and hedge funds own 44.19% of the company’s stock.

SmartFinancial Price Performance

Shares of SmartFinancial stock opened at $29.85 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $504.11 million, a price-to-earnings ratio of 13.69 and a beta of 0.73. SmartFinancial, Inc. has a 1-year low of $22.63 and a 1-year high of $30.35. The firm’s 50-day moving average price is $26.93 and its two-hundred day moving average price is $25.71.

SmartFinancial (NASDAQ:SMBKGet Rating) last issued its quarterly earnings data on Monday, October 24th. The bank reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.06). The firm had revenue of $42.96 million for the quarter, compared to the consensus estimate of $44.13 million. SmartFinancial had a return on equity of 9.30% and a net margin of 21.36%. On average, equities analysts predict that SmartFinancial, Inc. will post 2.56 earnings per share for the current fiscal year.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, November 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.94%. SmartFinancial’s dividend payout ratio (DPR) is currently 12.84%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SMBK. Stephens increased their price target on shares of SmartFinancial to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. DA Davidson lowered shares of SmartFinancial from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Monday, October 31st. Finally, StockNews.com assumed coverage on shares of SmartFinancial in a research report on Wednesday, October 12th. They issued a “hold” rating for the company.

About SmartFinancial

(Get Rating)

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, and Consumer and Other segments.

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Institutional Ownership by Quarter for SmartFinancial (NASDAQ:SMBK)

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