Stieven Capital Advisors L.P. Sells 3,900 Shares of SmartFinancial, Inc. (NASDAQ:SMBK)

Stieven Capital Advisors L.P. decreased its holdings in SmartFinancial, Inc. (NASDAQ:SMBK) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,234 shares of the bank’s stock after selling 3,900 shares during the period. Stieven Capital Advisors L.P.’s holdings in SmartFinancial were worth $4,654,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Foundry Partners LLC raised its stake in SmartFinancial by 23.9% in the 3rd quarter. Foundry Partners LLC now owns 184,555 shares of the bank’s stock valued at $5,378,000 after acquiring an additional 35,565 shares during the period. Barclays PLC raised its position in shares of SmartFinancial by 78.6% in the third quarter. Barclays PLC now owns 22,848 shares of the bank’s stock valued at $666,000 after purchasing an additional 10,055 shares during the period. Geode Capital Management LLC lifted its stake in shares of SmartFinancial by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock worth $9,779,000 after buying an additional 1,307 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of SmartFinancial by 6.9% during the 3rd quarter. Jane Street Group LLC now owns 14,925 shares of the bank’s stock worth $435,000 after buying an additional 967 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in SmartFinancial by 69.0% in the 3rd quarter. Wellington Management Group LLP now owns 340,418 shares of the bank’s stock valued at $9,920,000 after buying an additional 139,009 shares during the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Wesley Miller Welborn purchased 1,162 shares of SmartFinancial stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average price of $34.75 per share, for a total transaction of $40,379.50. Following the transaction, the chairman now owns 96,938 shares of the company’s stock, valued at approximately $3,368,595.50. The trade was a 1.21 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John M. Presley sold 6,916 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were 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 of the company’s stock, valued at approximately $138,798. This represents a 63.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,466 shares of company stock worth $262,044. Company insiders own 7.68% of the company’s stock.

SmartFinancial Trading Down 1.1 %

Shares of SMBK stock opened at $35.57 on Friday. The stock has a market cap of $602.20 million, a P/E ratio of 16.62 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 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 simple moving average of $33.14 and a 200 day simple moving average of $31.71.

SmartFinancial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. SmartFinancial’s payout ratio is 14.95%.

Analysts Set New Price Targets

SMBK has been the subject of several research reports. Hovde Group raised their price objective 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. Stephens downgraded SmartFinancial from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Finally, 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 report on Thursday, January 23rd. Four investment 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, the stock currently has an average rating of “Hold” and an average target price of $30.70.

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.