SmartFinancial, Inc. (NASDAQ:SMBK) Position Lifted by SlateStone Wealth LLC

SlateStone Wealth LLC lifted its holdings in SmartFinancial, Inc. (NASDAQ:SMBK) by 54.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 33,427 shares of the bank’s stock after buying an additional 11,750 shares during the quarter. SlateStone Wealth LLC’s holdings in SmartFinancial were worth $819,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SMBK. SG Americas Securities LLC bought a new position in shares of SmartFinancial in the 3rd quarter worth about $159,000. Bailard Inc. acquired a new stake in shares of SmartFinancial in the 3rd quarter worth about $292,000. Panagora Asset Management Inc. acquired a new stake in shares of SmartFinancial in the 3rd quarter worth about $758,000. New York State Common Retirement Fund increased its holdings in shares of SmartFinancial by 68.0% in the 3rd quarter. New York State Common Retirement Fund now owns 7,430 shares of the bank’s stock worth $159,000 after acquiring an additional 3,008 shares during the period. Finally, Swiss National Bank increased its holdings in shares of SmartFinancial by 2.6% in the 3rd quarter. Swiss National Bank now owns 31,747 shares of the bank’s stock worth $678,000 after acquiring an additional 800 shares during the period. 58.78% of the stock is currently owned by institutional investors.

SmartFinancial Price Performance

SmartFinancial stock traded up $0.65 during trading hours on Tuesday, hitting $20.31. 20,700 shares of the company traded hands, compared to its average volume of 32,100. The firm has a market cap of $346.49 million, a P/E ratio of 12.10 and a beta of 0.69. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $20.85 and its two-hundred day simple moving average is $21.94. SmartFinancial, Inc. has a 1-year low of $18.86 and a 1-year high of $25.98.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). The business had revenue of $65.07 million during the quarter, compared to analyst estimates of $39.14 million. SmartFinancial had a return on equity of 7.67% and a net margin of 11.90%. During the same period in the prior year, the firm earned $0.76 EPS. As a group, analysts forecast that SmartFinancial, Inc. will post 1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of SmartFinancial from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Stephens reaffirmed an “overweight” rating and issued a $26.00 price objective on shares of SmartFinancial in a report on Tuesday. Raymond James increased their price objective on shares of SmartFinancial from $24.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Finally, StockNews.com raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.25.

Insider Transactions at SmartFinancial

In other SmartFinancial news, EVP Gary Wayne Petty, Jr. sold 2,394 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.63, for a total value of $51,782.22. Following the completion of the transaction, the executive vice president now directly owns 19,091 shares in the company, valued at $412,938.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 7.80% of the company’s stock.

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.