SmartFinancial, Inc. (NASDAQ:SMBK) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its stake in SmartFinancial, Inc. (NASDAQ:SMBK) by 83.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,499 shares of the bank’s stock after selling 17,161 shares during the period. BNP Paribas Financial Markets’ holdings in SmartFinancial were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Foundry Partners LLC lifted its stake in shares of SmartFinancial by 23.9% during the third quarter. Foundry Partners LLC now owns 184,555 shares of the bank’s stock worth $5,378,000 after buying an additional 35,565 shares during the period. Acadian Asset Management LLC raised its stake in SmartFinancial by 320.7% in the 2nd quarter. Acadian Asset Management LLC now owns 54,574 shares of the bank’s stock worth $1,289,000 after acquiring an additional 41,602 shares during the last quarter. American Century Companies Inc. lifted its position in SmartFinancial by 16.9% during the 2nd quarter. American Century Companies Inc. now owns 183,751 shares of the bank’s stock worth $4,349,000 after acquiring an additional 26,583 shares during the period. Mendon Capital Advisors Corp grew its stake in SmartFinancial by 5,760.9% during the 2nd quarter. Mendon Capital Advisors Corp now owns 66,990 shares of the bank’s stock valued at $1,586,000 after purchasing an additional 65,847 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of SmartFinancial by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 96,021 shares of the bank’s stock valued at $2,273,000 after purchasing an additional 3,810 shares during the period. Hedge funds and other institutional investors own 58.78% of the company’s stock.

SmartFinancial Stock Down 5.5 %

SmartFinancial stock opened at $31.57 on Thursday. The business’s 50-day moving average price is $34.01 and its 200 day moving average price is $29.10. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The firm has a market cap of $534.35 million, a price-to-earnings ratio of 16.27 and a beta of 0.68. SmartFinancial, Inc. has a 52 week low of $19.00 and a 52 week high of $37.72.

SmartFinancial (NASDAQ:SMBK) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The business had revenue of $73.10 million for the quarter, compared to analysts’ expectations of $42.32 million. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. During the same quarter last year, the company earned $0.43 EPS. As a group, sell-side analysts anticipate that SmartFinancial, Inc. will post 2.02 earnings per share for the current year.

SmartFinancial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.32 annualized dividend and a yield of 1.01%. SmartFinancial’s dividend payout ratio is presently 16.49%.

Wall Street Analysts Forecast Growth

SMBK has been the subject of a number of research reports. Stephens downgraded SmartFinancial from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Raymond James lifted their price objective on shares of SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, Hovde Group upped their price objective on shares of SmartFinancial from $28.00 to $32.50 and gave the company a “market perform” rating in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.50.

Insider Buying and Selling at SmartFinancial

In other SmartFinancial news, Director John M. Presley sold 6,916 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $35.05, for a total transaction of $242,405.80. Following the transaction, the director now owns 3,960 shares in the company, valued at approximately $138,798. This represents a 63.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 7,516 shares of company stock valued at $262,600. Corporate insiders own 7.68% of the company’s stock.

About SmartFinancial

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.