Victory Capital Management Inc. Reduces Position in SmartFinancial, Inc. (NASDAQ:SMBK)

Victory Capital Management Inc. trimmed its holdings in SmartFinancial, Inc. (NASDAQ:SMBK) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,450 shares of the bank’s stock after selling 750 shares during the quarter. Victory Capital Management Inc. owned approximately 0.20% of SmartFinancial worth $1,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in SmartFinancial by 269.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank’s stock valued at $48,000 after acquiring an additional 1,122 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of SmartFinancial by 19,400.0% during the first quarter. GAMMA Investing LLC now owns 2,145 shares of the bank’s stock worth $69,000 after purchasing an additional 2,134 shares during the last quarter. CWM LLC boosted its stake in shares of SmartFinancial by 282.9% during the first quarter. CWM LLC now owns 2,489 shares of the bank’s stock valued at $77,000 after purchasing an additional 1,839 shares during the period. Aquatic Capital Management LLC bought a new position in shares of SmartFinancial in the fourth quarter worth about $104,000. Finally, Virtus Investment Advisers Inc. bought a new position in shares of SmartFinancial in the fourth quarter worth about $124,000. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of SmartFinancial from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Hovde Group boosted their price target on SmartFinancial from $37.50 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. Raymond James Financial restated a “strong-buy” rating and set a $44.00 price objective (up from $42.00) on shares of SmartFinancial in a report on Thursday, July 24th. Finally, Stephens reaffirmed an “equal weight” rating and set a $31.00 target price on shares of SmartFinancial in a research report on Tuesday, April 22nd.

SmartFinancial Stock Down 0.3%

Shares of SmartFinancial stock opened at $34.18 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. SmartFinancial, Inc. has a 1 year low of $25.58 and a 1 year high of $37.72. The firm’s 50-day moving average is $33.56 and its two-hundred day moving average is $32.55. The stock has a market cap of $581.69 million, a price-to-earnings ratio of 15.97 and a beta of 0.70.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings results on Monday, July 21st. The bank reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. SmartFinancial had a net margin of 12.67% and a return on equity of 7.33%. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, research analysts expect that SmartFinancial, Inc. will post 2.45 earnings per share for the current fiscal year.

SmartFinancial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 8th. SmartFinancial’s dividend payout ratio (DPR) is 12.96%.

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.