SmartFinancial, Inc. (NASDAQ:SMBK) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC decreased its stake in SmartFinancial, Inc. (NASDAQ:SMBK) by 60.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,469 shares of the bank’s stock after selling 40,521 shares during the period. Curi RMB Capital LLC owned approximately 0.16% of SmartFinancial worth $771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of SmartFinancial by 429.0% in the first quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank’s stock valued at $499,000 after purchasing an additional 19,210 shares during the period. Russell Investments Group Ltd. raised its position in SmartFinancial by 23.7% during the first quarter. Russell Investments Group Ltd. now owns 130,361 shares of the bank’s stock worth $2,747,000 after acquiring an additional 24,979 shares during the last quarter. Vanguard Group Inc. raised its position in SmartFinancial by 2.5% during the first quarter. Vanguard Group Inc. now owns 789,233 shares of the bank’s stock worth $16,629,000 after acquiring an additional 19,490 shares during the last quarter. Acadian Asset Management LLC raised its position in SmartFinancial by 320.7% during the second 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. Finally, American Century Companies Inc. raised its position in SmartFinancial by 16.9% during the second 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 last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

SmartFinancial Stock Performance

Shares of SMBK opened at $35.93 on Friday. 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 company has a market capitalization of $608.29 million, a price-to-earnings ratio of 18.52 and a beta of 0.67. The company’s 50 day simple moving average is $30.95 and its 200 day simple moving average is $26.92. SmartFinancial, Inc. has a 1 year low of $19.00 and a 1 year high of $37.72.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. SmartFinancial had a net margin of 11.88% and a return on equity of 6.81%. The business had revenue of $73.10 million for the quarter, compared to the consensus estimate of $42.32 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, sell-side analysts predict that SmartFinancial, Inc. will post 2.03 EPS for the current year.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date is Tuesday, November 12th. SmartFinancial’s dividend payout ratio (DPR) is 16.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SMBK shares. Stephens restated an “overweight” rating and set a $27.00 target price on shares of SmartFinancial in a research report on Tuesday, July 23rd. Hovde Group lifted their target price on shares of SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a research report on Wednesday, October 23rd. Raymond James lifted their target price on shares of SmartFinancial from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler cut shares of SmartFinancial from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $26.00 to $28.00 in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.50.

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.