Bridgeway Capital Management LLC Purchases 3,390 Shares of SmartFinancial, Inc. (NASDAQ:SMBK)

Bridgeway Capital Management LLC raised its position in SmartFinancial, Inc. (NASDAQ:SMBK) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,177 shares of the bank’s stock after buying an additional 3,390 shares during the quarter. Bridgeway Capital Management LLC’s holdings in SmartFinancial were worth $3,940,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SMBK. Tower Research Capital LLC TRC lifted its position in shares of SmartFinancial by 269.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank’s stock worth $48,000 after acquiring an additional 1,122 shares in the last quarter. Aquatic Capital Management LLC bought a new position in SmartFinancial in the 4th quarter worth about $104,000. Geneos Wealth Management Inc. bought a new stake in shares of SmartFinancial during the fourth quarter valued at about $192,000. Welch Group LLC purchased a new position in SmartFinancial during the fourth quarter valued at approximately $202,000. Finally, Ridgepath Capital Management LLC bought a new stake in SmartFinancial during the 4th quarter worth approximately $202,000. Hedge funds and other institutional investors own 58.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Raymond James restated a “strong-buy” rating and set a $42.00 price target (up from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods reduced their target price on SmartFinancial from $37.00 to $35.00 and set a “market perform” rating for the company in a research report on Thursday, April 24th. Finally, Stephens reiterated an “equal weight” rating and set a $31.00 price target on shares of SmartFinancial in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SmartFinancial has a consensus rating of “Hold” and an average price target of $33.70.

SmartFinancial Price Performance

Shares of SmartFinancial stock opened at $31.05 on Friday. The business’s 50-day moving average price is $30.24 and its 200-day moving average price is $32.71. The firm has a market capitalization of $528.39 million, a PE ratio of 14.51 and a beta of 0.71. SmartFinancial, Inc. has a 12 month low of $21.40 and a 12 month high of $37.72. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10.

SmartFinancial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.32 annualized dividend and a yield of 1.03%. SmartFinancial’s payout ratio is 14.16%.

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