Hsbc Holdings PLC boosted its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK – Free Report) by 176.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,325 shares of the bank’s stock after buying an additional 14,240 shares during the quarter. Hsbc Holdings PLC’s holdings in SmartFinancial were worth $825,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of SmartFinancial in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of SmartFinancial by 46.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock worth $51,000 after acquiring an additional 472 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of SmartFinancial by 173.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock worth $64,000 after acquiring an additional 1,202 shares during the period. State of Alaska Department of Revenue boosted its holdings in SmartFinancial by 209.1% in the fourth quarter. State of Alaska Department of Revenue now owns 2,105 shares of the bank’s stock valued at $77,000 after acquiring an additional 1,424 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in SmartFinancial in the second quarter valued at approximately $128,000. Institutional investors own 58.78% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. Raymond James Financial restated a “strong-buy” rating and issued a $50.00 price target on shares of SmartFinancial in a research report on Monday, April 20th. Finally, Benchmark began coverage on shares of SmartFinancial in a research report on Wednesday, June 24th. They set a “buy” rating and a $54.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.
SmartFinancial Stock Performance
SMBK stock opened at $46.61 on Wednesday. The firm has a market cap of $797.01 million, a PE ratio of 21.78 and a beta of 0.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $43.79 and a 200-day moving average price of $41.28. SmartFinancial, Inc. has a 1-year low of $32.63 and a 1-year high of $49.06.
SmartFinancial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.09 per share. This is an increase from SmartFinancial’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. SmartFinancial’s payout ratio is 11.54%.
Insider Buying and Selling
In other SmartFinancial news, Director Victor Lynn Barrett purchased 3,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were purchased at an average cost of $43.78 per share, for a total transaction of $131,340.00. Following the acquisition, the director owned 151,724 shares of the company’s stock, valued at approximately $6,642,476.72. This represents a 2.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cathy G. Ackermann purchased 3,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $42.12 per share, for a total transaction of $126,360.00. Following the completion of the acquisition, the director directly owned 19,831 shares in the company, valued at approximately $835,281.72. This represents a 17.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 6,290 shares of company stock valued at $269,677. 6.93% of the stock is currently owned by corporate insiders.
SmartFinancial Company Profile
SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.
Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.
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