Private Capital Management LLC Reduces Position in SmartFinancial, Inc. (NASDAQ:SMBK)

Private Capital Management LLC trimmed its stake in SmartFinancial, Inc. (NASDAQ:SMBK) by 2.6% in the third quarter, HoldingsChannel.com reports. The fund owned 557,745 shares of the bank’s stock after selling 14,925 shares during the quarter. SmartFinancial comprises approximately 3.2% of Private Capital Management LLC’s portfolio, making the stock its 20th biggest position. Private Capital Management LLC’s holdings in SmartFinancial were worth $16,253,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in SmartFinancial in the 4th quarter valued at about $917,000. Empowered Funds LLC grew its holdings in shares of SmartFinancial by 5.0% during the fourth quarter. Empowered Funds LLC now owns 70,677 shares of the bank’s stock worth $2,190,000 after buying an additional 3,390 shares in the last quarter. Welch Group LLC purchased a new stake in SmartFinancial in the 4th quarter worth approximately $202,000. Ridgepath Capital Management LLC acquired a new position in SmartFinancial in the fourth quarter valued at $202,000. Finally, Stonegate Investment Group LLC acquired a new position in shares of SmartFinancial during the 4th quarter valued at about $351,000. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on SMBK. Stephens cut shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Raymond James reiterated a “strong-buy” rating and issued a $42.00 price target (up previously from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.70.

SmartFinancial Stock Down 0.1 %

Shares of NASDAQ:SMBK opened at $34.43 on Friday. The stock has a 50-day simple moving average of $33.31 and a 200-day simple moving average of $32.16. The stock has a market capitalization of $582.76 million, a P/E ratio of 16.09 and a beta of 0.71. SmartFinancial, Inc. has a 1 year low of $19.00 and a 1 year 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.

SmartFinancial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.32 annualized dividend and a yield of 0.93%. SmartFinancial’s dividend payout ratio is currently 14.95%.

Insider Transactions at SmartFinancial

In related news, Chairman Wesley Miller Welborn acquired 1,162 shares of SmartFinancial stock in a transaction on Monday, February 3rd. The shares were bought at an average price of $34.75 per share, for a total transaction of $40,379.50. Following the completion of the purchase, the chairman now directly owns 96,938 shares in the company, valued at $3,368,595.50. This trade represents a 1.21 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John M. Presley sold 6,916 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $35.05, for a total value of $242,405.80. Following the completion of the sale, the director now directly owns 3,960 shares of the company’s stock, valued at $138,798. The trade was a 63.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,466 shares of company stock valued at $262,044 over the last 90 days. Corporate insiders own 7.68% of the company’s stock.

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.