SmartFinancial, Inc. (NASDAQ:SMBK) Shares Acquired by Invesco Ltd.

Invesco Ltd. increased its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) by 16.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,796 shares of the bank’s stock after acquiring an additional 3,979 shares during the quarter. Invesco Ltd. owned about 0.16% of SmartFinancial worth $861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trexquant Investment LP lifted its holdings in shares of SmartFinancial by 1.8% during the fourth quarter. Trexquant Investment LP now owns 30,026 shares of the bank’s stock worth $930,000 after purchasing an additional 543 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of SmartFinancial by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,448 shares of the bank’s stock valued at $1,377,000 after acquiring an additional 550 shares in the last quarter. Jane Street Group LLC increased its stake in shares of SmartFinancial by 6.9% during the third quarter. Jane Street Group LLC now owns 14,925 shares of the bank’s stock worth $435,000 after acquiring an additional 967 shares during the period. Alliancebernstein L.P. raised its holdings in SmartFinancial by 0.6% during the fourth quarter. Alliancebernstein L.P. now owns 208,193 shares of the bank’s stock worth $6,450,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in SmartFinancial by 0.4% during the third quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock worth $9,779,000 after purchasing an additional 1,307 shares in the last quarter. 58.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

SmartFinancial Stock Performance

Shares of SmartFinancial stock opened at $30.44 on Friday. SmartFinancial, Inc. has a 12 month low of $21.27 and a 12 month high of $37.72. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The stock has a market cap of $518.08 million, a PE ratio of 14.23 and a beta of 0.59. The business has a fifty day simple moving average of $30.62 and a 200-day simple moving average of $32.71.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Friday, May 2nd will be paid 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 1.05%. SmartFinancial’s dividend payout ratio (DPR) is presently 14.16%.

Insider Activity at SmartFinancial

In other SmartFinancial news, Chairman Wesley Miller Welborn purchased 1,162 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were purchased at an average price of $34.75 per share, for a total transaction of $40,379.50. Following the completion of the purchase, the chairman now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.62% of the stock is owned by company insiders.

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.