SmartFinancial Inc (NASDAQ:SMBK) Shares Acquired by Walthausen & Co. LLC

Walthausen & Co. LLC lifted its stake in shares of SmartFinancial Inc (NASDAQ:SMBK) by 24.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,192 shares of the bank’s stock after buying an additional 13,550 shares during the quarter. Walthausen & Co. LLC’s holdings in SmartFinancial were worth $1,613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SMBK. Bank of Montreal Can lifted its position in SmartFinancial by 45.0% during the fourth quarter. Bank of Montreal Can now owns 1,617 shares of the bank’s stock worth $38,000 after buying an additional 502 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of SmartFinancial by 116.7% during the 4th quarter. Meeder Asset Management Inc. now owns 1,300 shares of the bank’s stock valued at $31,000 after buying an additional 700 shares during the period. Citigroup Inc. raised its holdings in shares of SmartFinancial by 15.6% during the 4th quarter. Citigroup Inc. now owns 7,021 shares of the bank’s stock valued at $166,000 after buying an additional 950 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of SmartFinancial during the 4th quarter valued at about $26,000. Finally, Equitable Trust Co. raised its holdings in shares of SmartFinancial by 6.6% during the 3rd quarter. Equitable Trust Co. now owns 33,174 shares of the bank’s stock valued at $691,000 after buying an additional 2,050 shares during the period. 40.36% of the stock is owned by hedge funds and other institutional investors.

SMBK has been the topic of several analyst reports. ValuEngine upgraded SmartFinancial from a “sell” rating to a “hold” rating in a report on Tuesday, March 17th. Zacks Investment Research upgraded SmartFinancial from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Finally, BidaskClub downgraded SmartFinancial from a “sell” rating to a “strong sell” rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.67.

NASDAQ SMBK traded up $1.88 during mid-day trading on Thursday, reaching $15.09. 45,600 shares of the company’s stock traded hands, compared to its average volume of 40,568. SmartFinancial Inc has a 1-year low of $11.05 and a 1-year high of $23.99. The company has a fifty day simple moving average of $18.29 and a 200-day simple moving average of $21.14. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.21. The company has a market cap of $234.24 million, a price-to-earnings ratio of 7.98 and a beta of 0.84.

SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. SmartFinancial had a return on equity of 7.81% and a net margin of 21.45%. The firm had revenue of $23.94 million during the quarter, compared to analyst estimates of $23.31 million. Equities research analysts forecast that SmartFinancial Inc will post 1.46 earnings per share for the current fiscal year.

In other news, Chairman William Young Sr. Carroll bought 2,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $15.88 per share, for a total transaction of $31,760.00. Following the transaction, the chairman now owns 29,468 shares in the company, valued at $467,951.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Wesley Miller Welborn bought 5,450 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average price of $21.49 per share, with a total value of $117,120.50. Following the transaction, the chairman now owns 62,427 shares in the company, valued at approximately $1,341,556.23. The disclosure for this purchase can be found here. In the last quarter, insiders bought 20,450 shares of company stock valued at $389,021. Insiders own 9.82% of the company’s stock.

SmartFinancial Company 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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