BNP Paribas Financial Markets Lowers Stock Position in SmartFinancial, Inc. (NASDAQ:SMBK)

BNP Paribas Financial Markets reduced its stake in SmartFinancial, Inc. (NASDAQ:SMBK) by 46.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,868 shares of the bank’s stock after selling 1,631 shares during the quarter. BNP Paribas Financial Markets’ holdings in SmartFinancial were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in SmartFinancial by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 758,069 shares of the bank’s stock valued at $23,485,000 after purchasing an additional 32,418 shares in the last quarter. Wellington Management Group LLP raised its stake in SmartFinancial by 28.6% in the fourth quarter. Wellington Management Group LLP now owns 437,793 shares of the bank’s stock valued at $13,563,000 after purchasing an additional 97,375 shares in the last quarter. American Century Companies Inc. raised 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 purchasing an additional 40,104 shares in the last quarter. Alliancebernstein L.P. raised its stake in SmartFinancial by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 208,193 shares of the bank’s stock valued at $6,450,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in SmartFinancial in the fourth quarter valued at approximately $3,718,000. 58.78% of the stock is owned by hedge funds and other institutional investors.

SmartFinancial Stock Down 0.8%

Shares of NASDAQ SMBK opened at $31.52 on Tuesday. SmartFinancial, Inc. has a one year low of $21.40 and a one year high of $37.72. 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 firm’s 50 day simple moving average is $30.21 and its two-hundred day simple moving average is $32.40. The stock has a market capitalization of $536.32 million, a P/E ratio of 14.73 and a beta of 0.71.

SmartFinancial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Friday, May 2nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, May 2nd. SmartFinancial’s payout ratio is currently 14.16%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SMBK shares. Stephens reaffirmed an “equal weight” rating and issued a $31.00 target price on shares of SmartFinancial in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price target 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 equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.