Quantinno Capital Management LP Acquires 9,869 Shares of SmartFinancial, Inc. $SMBK

Quantinno Capital Management LP grew its holdings in SmartFinancial, Inc. (NASDAQ:SMBK) by 90.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,794 shares of the bank’s stock after purchasing an additional 9,869 shares during the quarter. Quantinno Capital Management LP owned about 0.12% of SmartFinancial worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC grew its position in shares of 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 buying an additional 14,240 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of SmartFinancial during the 1st quarter worth about $792,000. Algebris UK Ltd. bought a new position in SmartFinancial in the fourth quarter worth approximately $2,158,000. Principal Financial Group Inc. bought a new position in shares of SmartFinancial in the 1st quarter worth $708,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of SmartFinancial by 14.9% during the first quarter. Bank of New York Mellon Corp now owns 80,719 shares of the bank’s stock valued at $3,154,000 after buying an additional 10,470 shares during the last quarter. Institutional investors own 58.78% of the company’s stock.

Insider Buying and Selling

In other news, Director Victor Lynn Barrett bought 3,000 shares of the firm’s 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 completion of the transaction, the director directly owned 151,724 shares of the company’s stock, valued at $6,642,476.72. This represents a 2.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cathy G. Ackermann bought 3,000 shares of the stock in a transaction on Thursday, June 4th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $835,281.72. This trade represents a 17.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 6.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price target on SmartFinancial from $46.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd. Benchmark increased their price objective on SmartFinancial from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Raymond James Financial restated a “strong-buy” rating and issued a $58.00 target price on shares of SmartFinancial in a report on Wednesday, July 22nd. Finally, Stephens raised their price objective on SmartFinancial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.75.

SmartFinancial Stock Performance

NASDAQ SMBK opened at $51.99 on Tuesday. SmartFinancial, Inc. has a 52-week low of $33.01 and a 52-week high of $54.14. The company has a 50-day simple moving average of $48.45 and a 200 day simple moving average of $43.44. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $888.93 million, a PE ratio of 24.29 and a beta of 0.69.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, July 31st were paid a dividend of $0.09 per share. The ex-dividend date was Friday, July 31st. This represents a $0.36 annualized dividend and a dividend yield of 0.7%. SmartFinancial’s dividend payout ratio (DPR) is presently 10.62%.

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.