11,706 Shares in SmartFinancial, Inc. $SMBK Acquired by AGP Franklin LLC

AGP Franklin LLC acquired a new position in shares of SmartFinancial, Inc. (NASDAQ:SMBK) during the 1st quarter, Holdings Channel.com reports. The firm acquired 11,706 shares of the bank’s stock, valued at approximately $457,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Eagle Investment Management LLC raised its holdings in shares of SmartFinancial by 375.5% in the fourth quarter. First Eagle Investment Management LLC now owns 152,167 shares of the bank’s stock valued at $5,629,000 after acquiring an additional 120,167 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of SmartFinancial by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 728,151 shares of the bank’s stock worth $26,934,000 after purchasing an additional 80,639 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of SmartFinancial by 55.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 163,240 shares of the bank’s stock worth $6,038,000 after purchasing an additional 58,560 shares during the period. Algebris UK Ltd. bought a new position in shares of SmartFinancial during the fourth quarter valued at approximately $2,158,000. Finally, North Reef Capital Management LP boosted its stake in shares of SmartFinancial by 59.5% during the fourth quarter. North Reef Capital Management LP now owns 134,871 shares of the bank’s stock valued at $4,989,000 after purchasing an additional 50,301 shares in the last quarter. 58.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

SMBK has been the subject of a number of recent research reports. Raymond James Financial reissued a “strong-buy” rating and issued a $50.00 price objective on shares of SmartFinancial in a research note on Monday, April 20th. Zacks Research downgraded SmartFinancial from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Keefe, Bruyette & Woods boosted their price target on SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, SmartFinancial presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.88.

SmartFinancial Stock Performance

Shares of SMBK stock opened at $44.93 on Tuesday. The business’s fifty day simple moving average is $42.24 and its 200-day simple moving average is $40.33. The company has a market cap of $768.25 million, a PE ratio of 21.00 and a beta of 0.72. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial, Inc. has a 12-month low of $31.50 and a 12-month high of $46.29.

SmartFinancial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.09 per share. This is a positive change from SmartFinancial’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, May 15th. This represents a $0.36 annualized dividend and a yield of 0.8%. SmartFinancial’s dividend payout ratio (DPR) is presently 11.54%.

Insider Buying and Selling at SmartFinancial

In other SmartFinancial news, Director Cathy G. Ackermann purchased 3,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $42.12 per share, for a total transaction of $126,360.00. Following the completion of the purchase, the director owned 19,831 shares in the company, valued at $835,281.72. This represents a 17.82% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Victor Lynn Barrett purchased 3,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was acquired at an average cost of $43.78 per share, with a total value of $131,340.00. Following the acquisition, the director owned 151,724 shares of the company’s stock, valued at approximately $6,642,476.72. This represents a 2.02% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 6,290 shares of company stock worth $269,677. 6.93% of the stock is owned by company insiders.

About SmartFinancial

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.