SmartFinancial Inc (NASDAQ:SMBK) Shares Bought by Private Capital Management LLC

Private Capital Management LLC raised its position in SmartFinancial Inc (NASDAQ:SMBK) by 41.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 483,099 shares of the bank’s stock after buying an additional 141,770 shares during the quarter. SmartFinancial comprises about 1.6% of Private Capital Management LLC’s holdings, making the stock its 26th largest position. Private Capital Management LLC owned approximately 3.46% of SmartFinancial worth $10,478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in SmartFinancial by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 544,238 shares of the bank’s stock valued at $11,804,000 after buying an additional 20,644 shares during the period. BlackRock Inc. boosted its position in shares of SmartFinancial by 10.4% during the 2nd quarter. BlackRock Inc. now owns 728,522 shares of the bank’s stock worth $15,801,000 after purchasing an additional 68,391 shares in the last quarter. Aptus Capital Advisors LLC purchased a new stake in shares of SmartFinancial during the 2nd quarter worth $325,000. Northern Trust Corp boosted its position in shares of SmartFinancial by 4.8% during the 2nd quarter. Northern Trust Corp now owns 125,067 shares of the bank’s stock worth $2,712,000 after purchasing an additional 5,712 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of SmartFinancial by 15.4% during the 2nd quarter. Renaissance Technologies LLC now owns 150,184 shares of the bank’s stock worth $3,257,000 after purchasing an additional 20,084 shares in the last quarter. 40.35% of the stock is currently owned by institutional investors.

Shares of NASDAQ SMBK traded down $0.15 during trading on Wednesday, hitting $22.00. 200 shares of the company were exchanged, compared to its average volume of 28,542. The company has a market cap of $309.30 million, a price-to-earnings ratio of 14.19 and a beta of 0.64. SmartFinancial Inc has a 1 year low of $16.17 and a 1 year high of $24.07. The firm’s fifty day moving average price is $20.38 and its 200 day moving average price is $20.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00.

SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). SmartFinancial had a return on equity of 7.82% and a net margin of 20.91%. The business had revenue of $29.22 million during the quarter, compared to analysts’ expectations of $23.22 million. On average, research analysts forecast that SmartFinancial Inc will post 1.61 earnings per share for the current year.

Several equities research analysts have commented on SMBK shares. DA Davidson restated a “neutral” rating on shares of SmartFinancial in a research report on Monday, July 22nd. ValuEngine lowered shares of SmartFinancial from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Raymond James lowered shares of SmartFinancial from an “outperform” rating to a “market perform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of SmartFinancial from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.00.

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, Florida, and Georgia. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit.

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Institutional Ownership by Quarter for SmartFinancial (NASDAQ:SMBK)

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