Barclays PLC Buys 3,247 Shares of SmartFinancial, Inc. (NASDAQ:SMBK)

Barclays PLC raised its stake in SmartFinancial, Inc. (NASDAQ:SMBK) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,095 shares of the bank’s stock after purchasing an additional 3,247 shares during the period. Barclays PLC owned 0.15% of SmartFinancial worth $808,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Jane Street Group LLC increased its position in SmartFinancial by 6.9% in the 3rd quarter. Jane Street Group LLC now owns 14,925 shares of the bank’s stock valued at $435,000 after buying an additional 967 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of SmartFinancial by 130.6% during the fourth quarter. JPMorgan Chase & Co. now owns 75,527 shares of the bank’s stock valued at $2,340,000 after acquiring an additional 42,771 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of SmartFinancial during the fourth quarter worth approximately $917,000. Charles Schwab Investment Management Inc. grew its position in SmartFinancial by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,448 shares of the bank’s stock valued at $1,377,000 after purchasing an additional 550 shares during the period. Finally, SG Americas Securities LLC increased its stake in SmartFinancial by 32.1% during the 4th quarter. SG Americas Securities LLC now owns 7,292 shares of the bank’s stock valued at $226,000 after purchasing an additional 1,771 shares in the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

SmartFinancial Stock Down 0.5 %

SMBK stock opened at $30.50 on Wednesday. The stock has a market cap of $518.96 million, a P/E ratio of 14.25 and a beta of 0.71. 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 stock’s fifty day simple moving average is $30.39 and its two-hundred day simple moving average is $32.72. SmartFinancial, Inc. has a 1-year low of $21.40 and a 1-year high of $37.72.

SmartFinancial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Friday, May 2nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, May 2nd. SmartFinancial’s dividend payout ratio is 14.16%.

Analyst Upgrades and Downgrades

SMBK has been the subject of a number of analyst reports. Raymond James reiterated a “strong-buy” rating and set a $42.00 price objective (up from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their target price on SmartFinancial from $37.00 to $35.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Finally, Stephens reiterated an “equal weight” rating and set a $31.00 price target on shares of SmartFinancial in a report on Tuesday, April 22nd. Four 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, the company has an average rating of “Hold” and an average 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.