Context BH Capital Management LP Acquires Shares of 41,181 SmartFinancial, Inc. (SMBK)
Context BH Capital Management LP acquired a new position in SmartFinancial, Inc. (NASDAQ:SMBK) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 41,181 shares of the bank’s stock, valued at approximately $991,000. Context BH Capital Management LP owned 0.50% of SmartFinancial as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of the stock. Emerald Mutual Fund Advisers Trust boosted its position in shares of SmartFinancial by 100.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 200,000 shares of the bank’s stock worth $4,812,000 after buying an additional 100,000 shares during the period. Wasatch Advisors Inc. boosted its position in shares of SmartFinancial by 50.4% during the second quarter. Wasatch Advisors Inc. now owns 81,000 shares of the bank’s stock worth $1,934,000 after buying an additional 27,161 shares during the period. California State Teachers Retirement System purchased a new position in shares of SmartFinancial during the second quarter worth $303,000. The Manufacturers Life Insurance Company purchased a new position in shares of SmartFinancial during the second quarter worth $177,000. Finally, State Street Corp purchased a new position in shares of SmartFinancial during the second quarter worth $1,692,000. Institutional investors own 41.07% of the company’s stock.
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SmartFinancial, Inc. (NASDAQ SMBK) traded down $0.24 on Tuesday, hitting $22.17. The stock had a trading volume of 2,300 shares, compared to its average volume of 18,974. SmartFinancial, Inc. has a 1-year low of $17.17 and a 1-year high of $26.26. The stock has a market capitalization of $184.73, a price-to-earnings ratio of 27.67 and a beta of 0.31.
Separately, Zacks Investment Research lowered SmartFinancial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 26th.
SmartFinancial, Inc, formerly Cornerstone Bancshares, Inc, is a bank holding company. The Company operates through its SmartBank subsidiary (The Bank). The principal business of the Bank consists of attracting deposits from the public and investing those funds, together with funds generated from operations and from principal and interest payments on loans.
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