SmartFinancial, Inc. $SMBK Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in shares of SmartFinancial, Inc. (NASDAQ:SMBK) by 60.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,785 shares of the bank’s stock after selling 20,822 shares during the quarter. SG Americas Securities LLC owned approximately 0.08% of SmartFinancial worth $539,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its stake in SmartFinancial by 176.1% during the 4th quarter. Hsbc Holdings PLC now owns 22,325 shares of the bank’s stock worth $825,000 after purchasing an additional 14,240 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of SmartFinancial by 107.9% in the fourth quarter. NewEdge Advisors LLC now owns 26,651 shares of the bank’s stock valued at $986,000 after buying an additional 13,834 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of SmartFinancial by 10.6% in the fourth quarter. Empowered Funds LLC now owns 86,967 shares of the bank’s stock worth $3,217,000 after buying an additional 8,354 shares in the last quarter. Zacks Investment Management lifted its stake in shares of SmartFinancial by 2.1% in the fourth quarter. Zacks Investment Management now owns 78,575 shares of the bank’s stock worth $2,907,000 after buying an additional 1,585 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in SmartFinancial by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 728,151 shares of the bank’s stock worth $26,934,000 after acquiring an additional 80,639 shares during the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.

SmartFinancial Stock Performance

NASDAQ SMBK opened at $46.72 on Wednesday. The stock has a market cap of $798.87 million, a PE ratio of 21.83 and a beta of 0.70. 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 twelve month low of $32.63 and a twelve month high of $49.06. The stock has a fifty day simple moving average of $43.36 and a 200-day simple moving average of $41.00.

SmartFinancial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.09 per share. This is a boost from SmartFinancial’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. SmartFinancial’s dividend payout ratio (DPR) is 11.54%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SMBK shares. Benchmark began coverage on shares of SmartFinancial in a research note on Wednesday, June 24th. They set a “buy” rating and a $54.00 price objective for the company. Keefe, Bruyette & Woods upped their price target on SmartFinancial from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Tuesday, April 21st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $50.00 price target on shares of SmartFinancial in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.50.

Insider Transactions at SmartFinancial

In related news, Director Victor Lynn Barrett purchased 3,000 shares of SmartFinancial stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average cost of $43.78 per share, with a total value of $131,340.00. Following the purchase, the director owned 151,724 shares of the company’s stock, valued at approximately $6,642,476.72. The trade was a 2.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cathy G. Ackermann acquired 3,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $42.12 per share, with a total value of $126,360.00. Following the transaction, the director directly owned 19,831 shares in the company, valued at $835,281.72. This trade represents a 17.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 6,290 shares of company stock valued at $269,677. Company insiders own 6.93% of the company’s stock.

SmartFinancial Profile

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.