CAP Partners LLC Invests $230,000 in SmartFinancial, Inc. (NASDAQ:SMBK)

CAP Partners LLC acquired a new stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 7,910 shares of the bank’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers raised its position in SmartFinancial by 1.5% in the second quarter. Rhumbline Advisers now owns 24,147 shares of the bank’s stock valued at $572,000 after purchasing an additional 361 shares during the last quarter. Victory Capital Management Inc. raised its holdings 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. Huntington National Bank boosted its position in SmartFinancial by 5,269.2% during the 3rd quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock worth $41,000 after buying an additional 1,370 shares during the period. Renaissance Technologies LLC grew its holdings in SmartFinancial by 1.1% during the 2nd quarter. Renaissance Technologies LLC now owns 140,274 shares of the bank’s stock worth $3,320,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in SmartFinancial by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 67,287 shares of the bank’s stock worth $1,961,000 after acquiring an additional 3,350 shares during the last quarter. Institutional investors own 58.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Piper Sandler downgraded shares of SmartFinancial from an “overweight” rating to a “neutral” rating and raised their price target for the company from $26.00 to $28.00 in a research note on Wednesday, July 24th. Stephens reaffirmed an “overweight” rating and set a $27.00 target price on shares of SmartFinancial in a report on Tuesday, July 23rd. Raymond James upped their price target on SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, Hovde Group raised their price objective on SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.50.

SmartFinancial Stock Performance

Shares of SMBK opened at $35.93 on Monday. 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 firm’s fifty day simple moving average is $31.11 and its two-hundred day simple moving average is $27.08. SmartFinancial, Inc. has a 12 month low of $19.00 and a 12 month high of $37.72. The stock has a market capitalization of $608.15 million, a P/E ratio of 18.52 and a beta of 0.67.

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 analysts’ consensus estimates of $0.49 by $0.05. SmartFinancial had a return on equity of 6.81% and a net margin of 11.88%. The company had revenue of $73.10 million for the quarter, compared to the consensus estimate of $42.32 million. During the same period in the previous year, the business earned $0.43 EPS. As a group, analysts predict that SmartFinancial, Inc. will post 2.02 EPS for the current year.

SmartFinancial Announces Dividend

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

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.