Victory Capital Management Inc. Has $1.06 Million Holdings in SmartFinancial, Inc. (NASDAQ:SMBK)

Victory Capital Management Inc. grew its stake in SmartFinancial, Inc. (NASDAQ:SMBK) by 7.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 34,200 shares of the bank’s stock after buying an additional 2,351 shares during the quarter. Victory Capital Management Inc.’s holdings in SmartFinancial were worth $1,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SMBK. Huntington National Bank boosted its holdings in shares of SmartFinancial by 5,269.2% in the third quarter. Huntington National Bank now owns 1,396 shares of the bank’s stock valued at $41,000 after buying an additional 1,370 shares during the period. Geneos Wealth Management Inc. acquired a new position in SmartFinancial during the fourth quarter worth $192,000. Ridgepath Capital Management LLC bought a new position in SmartFinancial in the fourth quarter valued at $202,000. Welch Group LLC bought a new position in SmartFinancial in the fourth quarter valued at $202,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in SmartFinancial in the third quarter valued at $226,000. Institutional investors and hedge funds own 58.78% of the company’s stock.

Insider Activity

In other news, Chairman Wesley Miller Welborn acquired 1,162 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was bought at an average price of $34.75 per share, with a total value of $40,379.50. Following the transaction, the chairman now directly owns 96,938 shares in the company, valued at approximately $3,368,595.50. The trade was a 1.21 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stephens downgraded shares of SmartFinancial from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Raymond James reaffirmed a “strong-buy” rating and issued a $42.00 target price (up previously from $36.00) on shares of SmartFinancial in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.70.

SmartFinancial Stock Performance

Shares of SMBK opened at $31.83 on Thursday. The firm has a 50-day moving average of $33.68 and a 200-day moving average of $32.61. SmartFinancial, Inc. has a one year low of $19.00 and a one year high of $37.72. The company has a market cap of $538.67 million, a PE ratio of 14.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90.

SmartFinancial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, January 31st. SmartFinancial’s dividend payout ratio (DPR) is presently 14.95%.

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.