RFG Advisory LLC Sells 3,110 Shares of SmartFinancial, Inc. $SMBK

RFG Advisory LLC decreased its stake in SmartFinancial, Inc. (NASDAQ:SMBK) by 31.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,912 shares of the bank’s stock after selling 3,110 shares during the period. RFG Advisory LLC’s holdings in SmartFinancial were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of SmartFinancial by 19,400.0% during the first quarter. GAMMA Investing LLC now owns 2,145 shares of the bank’s stock worth $69,000 after buying an additional 2,134 shares during the last quarter. CWM LLC grew its position in SmartFinancial by 282.9% during the 1st quarter. CWM LLC now owns 2,489 shares of the bank’s stock worth $77,000 after acquiring an additional 1,839 shares during the last quarter. Bailard Inc. acquired a new position in SmartFinancial in the 1st quarter worth about $386,000. Connor Clark & Lunn Investment Management Ltd. raised its position in SmartFinancial by 45.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,634 shares of the bank’s stock valued at $2,724,000 after purchasing an additional 27,586 shares during the last quarter. Finally, Nuveen LLC bought a new position in SmartFinancial in the first quarter valued at about $2,196,000. Institutional investors and hedge funds own 58.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Zacks Research downgraded SmartFinancial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Raymond James Financial restated a “strong-buy” rating and issued a $44.00 price target (up from $42.00) on shares of SmartFinancial in a research report on Thursday, July 24th. Hovde Group raised their price target on shares of SmartFinancial from $37.50 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of SmartFinancial from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.25.

SmartFinancial Stock Up 0.8%

SmartFinancial stock opened at $34.52 on Monday. The firm has a market cap of $587.53 million, a price-to-earnings ratio of 16.13 and a beta of 0.80. SmartFinancial, Inc. has a 52-week low of $26.31 and a 52-week high of $37.92. 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 firm has a 50 day moving average price of $35.95 and a two-hundred day moving average price of $33.45.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Monday, July 21st. The bank reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. SmartFinancial had a net margin of 12.67% and a return on equity of 7.33%. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Equities analysts predict that SmartFinancial, Inc. will post 2.45 EPS for the current year.

SmartFinancial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 8th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, August 8th. SmartFinancial’s dividend payout ratio (DPR) is presently 12.96%.

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, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.