Harbor Capital Advisors Inc. Raises Stock Position in SmartFinancial, Inc. (NASDAQ:SMBK)

Harbor Capital Advisors Inc. increased its holdings in shares of SmartFinancial, Inc. (NASDAQ:SMBK) by 2,389.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,004 shares of the bank’s stock after purchasing an additional 4,803 shares during the period. Harbor Capital Advisors Inc.’s holdings in SmartFinancial were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings 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 purchasing an additional 1,122 shares during the last quarter. GAMMA Investing LLC increased its holdings in SmartFinancial by 19,400.0% in the first quarter. GAMMA Investing LLC now owns 2,145 shares of the bank’s stock valued at $69,000 after buying an additional 2,134 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in SmartFinancial in the fourth quarter valued at $104,000. Virtus Investment Advisers Inc. purchased a new position in SmartFinancial in the fourth quarter valued at $124,000. Finally, Squarepoint Ops LLC purchased a new position in SmartFinancial in the fourth quarter valued at $277,000. Hedge funds and other institutional investors own 58.78% of the company’s stock.

Wall Street Analyst Weigh In

SMBK has been the subject of a number of recent analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price objective on shares of SmartFinancial in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their price objective on shares of SmartFinancial from $37.00 to $35.00 and set a “market perform” rating for the company in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SmartFinancial currently has a consensus rating of “Hold” and an average target price of $33.70.

SmartFinancial Stock Down 2.8%

Shares of NASDAQ SMBK opened at $31.39 on Monday. The company’s 50-day simple moving average is $30.65 and its 200-day simple moving average is $32.15. SmartFinancial, Inc. has a 52-week low of $21.40 and a 52-week high of $37.72. The firm has a market cap of $534.21 million, a price-to-earnings ratio of 14.67 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Friday, May 2nd were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. SmartFinancial’s dividend payout ratio (DPR) is 14.16%.

About SmartFinancial

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.