Proficio Capital Partners LLC Takes $917,000 Position in SmartFinancial, Inc. (NASDAQ:SMBK)

Proficio Capital Partners LLC acquired a new position in shares of SmartFinancial, Inc. (NASDAQ:SMBK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 29,586 shares of the bank’s stock, valued at approximately $917,000.

Several other hedge funds also recently made changes to their positions in SMBK. Charles Schwab Investment Management Inc. grew its stake in SmartFinancial by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,448 shares of the bank’s stock worth $1,377,000 after acquiring an additional 550 shares during the period. Jane Street Group LLC increased its holdings in SmartFinancial by 6.9% in the 3rd quarter. Jane Street Group LLC now owns 14,925 shares of the bank’s stock valued at $435,000 after purchasing an additional 967 shares in the last quarter. Geode Capital Management LLC boosted its position in SmartFinancial by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock valued at $9,779,000 after buying an additional 1,307 shares during the last quarter. Victory Capital Management Inc. boosted its position in SmartFinancial by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 31,849 shares of the bank’s stock valued at $928,000 after buying an additional 1,349 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of SmartFinancial by 32.1% during the fourth quarter. SG Americas Securities LLC now owns 7,292 shares of the bank’s stock worth $226,000 after purchasing an additional 1,771 shares during the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SMBK shares. Stephens lowered shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Raymond James reiterated a “strong-buy” rating and set a $42.00 price objective (up previously from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, SmartFinancial has an average rating of “Hold” and a consensus target price of $30.70.

Insider Buying and Selling

In other news, Chairman Wesley Miller Welborn acquired 1,162 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average price of $34.75 per share, with a total value of $40,379.50. Following the purchase, the chairman now owns 96,938 shares of the company’s stock, valued at approximately $3,368,595.50. This trade represents a 1.21 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 7.68% of the company’s stock.

SmartFinancial Trading Down 1.3 %

SmartFinancial stock opened at $31.13 on Friday. The company has a 50 day moving average price of $33.74 and a 200 day moving average price of $32.61. SmartFinancial, Inc. has a 52 week low of $19.00 and a 52 week high of $37.72. 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 market capitalization of $526.91 million, a price-to-earnings ratio of 14.55 and a beta of 0.67.

SmartFinancial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, January 31st. SmartFinancial’s dividend payout ratio is 14.95%.

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.