Ridgepath Capital Management LLC Invests $202,000 in SmartFinancial, Inc. (NASDAQ:SMBK)

Ridgepath Capital Management LLC purchased a new stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,526 shares of the bank’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMBK. Stonegate Investment Group LLC acquired a new stake in shares of SmartFinancial during the fourth quarter worth approximately $351,000. Geneos Wealth Management Inc. bought a new stake in shares of SmartFinancial in the 4th quarter worth about $192,000. RFG Advisory LLC bought a new stake in shares of SmartFinancial in the 4th quarter worth about $310,000. SG Americas Securities LLC grew its stake in SmartFinancial by 32.1% in 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 in the last quarter. Finally, Barclays PLC grew its stake in SmartFinancial by 78.6% in the third quarter. Barclays PLC now owns 22,848 shares of the bank’s stock worth $666,000 after purchasing an additional 10,055 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

SmartFinancial Price Performance

Shares of NASDAQ:SMBK opened at $35.20 on Friday. The stock’s 50 day moving average price is $33.25 and its 200 day moving average price is $31.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $595.94 million, a price-to-earnings ratio of 17.24 and a beta of 0.70. SmartFinancial, Inc. has a 12 month low of $19.00 and a 12 month high of $37.72.

SmartFinancial Announces Dividend

The firm also recently disclosed 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 is Friday, January 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.91%. SmartFinancial’s dividend payout ratio (DPR) is 14.95%.

Insider Buying and Selling

In related news, Director John M. Presley sold 6,916 shares of the stock in a transaction on 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 transaction, the director now owns 3,960 shares in the company, valued at $138,798. This trade represents a 63.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 7,766 shares of company stock worth $271,800. Corporate insiders own 7.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Hovde Group raised their price target 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 cut SmartFinancial from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Finally, Raymond James reissued a “strong-buy” rating and issued a $42.00 price target (up previously from $36.00) on shares of SmartFinancial in a research note on Thursday, January 23rd. Four research 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 price target of $30.70.

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.