SmartFinancial, Inc. (NASDAQ:SMBK) Stock Position Lifted by American Century Companies Inc.

American Century Companies Inc. grew its position in SmartFinancial, Inc. (NASDAQ:SMBK) by 16.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,751 shares of the bank’s stock after acquiring an additional 26,583 shares during the quarter. American Century Companies Inc.’s holdings in SmartFinancial were worth $4,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in SmartFinancial in the first quarter worth $271,000. BNP Paribas Financial Markets raised its holdings in shares of SmartFinancial by 429.0% during the first quarter. BNP Paribas Financial Markets now owns 23,688 shares of the bank’s stock worth $499,000 after purchasing an additional 19,210 shares during the period. Rhumbline Advisers lifted its position in shares of SmartFinancial by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 24,147 shares of the bank’s stock worth $572,000 after buying an additional 361 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of SmartFinancial by 22.0% in the 2nd quarter. Victory Capital Management Inc. now owns 30,500 shares of the bank’s stock valued at $722,000 after buying an additional 5,500 shares during the period. Finally, SlateStone Wealth LLC grew its position in shares of SmartFinancial by 1.5% during the 1st quarter. SlateStone Wealth LLC now owns 33,927 shares of the bank’s stock valued at $715,000 after buying an additional 500 shares during the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Piper Sandler cut shares of SmartFinancial from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $26.00 to $28.00 in a report on Wednesday, July 24th. Stephens reissued an “overweight” rating and issued a $27.00 price target on shares of SmartFinancial in a report on Tuesday, July 23rd. Finally, Hovde Group upped their price objective on SmartFinancial from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.00.

SmartFinancial Stock Performance

Shares of NASDAQ SMBK opened at $29.02 on Thursday. SmartFinancial, Inc. has a 12-month low of $19.00 and a 12-month high of $30.21. The company has a market cap of $491.02 million, a PE ratio of 18.60 and a beta of 0.69. The stock has a 50 day simple moving average of $28.18 and a 200-day simple moving average of $24.12. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12.

SmartFinancial (NASDAQ:SMBK) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $68.89 million during the quarter, compared to analyst estimates of $40.32 million. SmartFinancial had a return on equity of 6.55% and a net margin of 9.93%. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, equities research analysts forecast that SmartFinancial, Inc. will post 1.99 EPS for the current year.

SmartFinancial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.08 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 1.10%. SmartFinancial’s dividend payout ratio is presently 20.51%.

SmartFinancial Company 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.