Kelli Shomaker Acquires 255 Shares of SmartFinancial (NASDAQ:SMBK) Stock

SmartFinancial, Inc. (NASDAQ:SMBK) Director Kelli Shomaker bought 255 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were purchased at an average cost of $39.38 per share, with a total value of $10,041.90. Following the transaction, the director directly owned 1,022 shares in the company, valued at approximately $40,246.36. This trade represents a 33.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

SmartFinancial Stock Up 1.3%

Shares of NASDAQ SMBK opened at $39.59 on Friday. The company’s 50 day moving average price is $38.06 and its 200-day moving average price is $36.42. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. SmartFinancial, Inc. has a 52-week low of $26.31 and a 52-week high of $42.96. The company has a market capitalization of $674.14 million, a P/E ratio of 18.50 and a beta of 0.75.

Hedge Funds Weigh In On SmartFinancial

A number of large investors have recently modified their holdings of SMBK. Harbor Capital Advisors Inc. grew its holdings in shares of SmartFinancial by 5.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,860 shares of the bank’s stock valued at $217,000 after buying an additional 321 shares during the last quarter. Inspire Investing LLC boosted its stake in SmartFinancial by 3.4% during the 2nd quarter. Inspire Investing LLC now owns 11,442 shares of the bank’s stock valued at $387,000 after purchasing an additional 376 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SmartFinancial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,481 shares of the bank’s stock valued at $295,000 after purchasing an additional 390 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in SmartFinancial by 24.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,243 shares of the bank’s stock worth $76,000 after purchasing an additional 438 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of SmartFinancial by 46.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock worth $51,000 after purchasing an additional 472 shares during the last quarter. 58.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SMBK has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on SmartFinancial from $37.00 to $39.50 and gave the company a “neutral” rating in a research note on Monday, October 27th. Zacks Research lowered SmartFinancial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Hovde Group raised shares of SmartFinancial from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of SmartFinancial from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.50.

SmartFinancial Company 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.