XTX Topco Ltd Makes New $272,000 Investment in SmartFinancial, Inc. (NASDAQ:SMBK)

XTX Topco Ltd bought a new position in shares of SmartFinancial, Inc. (NASDAQ:SMBK) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,333 shares of the bank’s stock, valued at approximately $272,000. XTX Topco Ltd owned about 0.06% of SmartFinancial as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Rhumbline Advisers raised its holdings in SmartFinancial by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 24,147 shares of the bank’s stock worth $572,000 after purchasing an additional 361 shares during the last quarter. Jane Street Group LLC raised its stake in shares of SmartFinancial by 6.9% during the third 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. Victory Capital Management Inc. lifted its holdings in SmartFinancial by 4.4% in the third 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 period. Huntington National Bank lifted its holdings in 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. Finally, Renaissance Technologies LLC boosted its stake in SmartFinancial by 1.1% in the second quarter. Renaissance Technologies LLC now owns 140,274 shares of the bank’s stock valued at $3,320,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

Insider Transactions at SmartFinancial

In related news, Director John M. Presley sold 6,916 shares of the company’s stock in a transaction on Monday, December 9th. The shares were 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 directly owns 3,960 shares of the company’s stock, valued at approximately $138,798. This represents a 63.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 7,516 shares of company stock valued at $262,600 over the last quarter. Corporate insiders own 7.68% of the company’s stock.

Analyst Upgrades and Downgrades

SMBK has been the topic of a number of analyst reports. Stephens downgraded SmartFinancial from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Raymond James increased their target price on SmartFinancial from $32.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, Hovde Group boosted their target price on SmartFinancial from $28.00 to $32.50 and gave the stock a “market perform” rating in a research report on Wednesday, October 23rd. Five equities research 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.com, SmartFinancial presently has an average rating of “Hold” and an average price target of $29.50.

SmartFinancial Stock Performance

SMBK stock opened at $31.57 on Thursday. 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 firm has a market cap of $534.35 million, a PE ratio of 16.27 and a beta of 0.68. The business’s 50-day moving average price is $34.01 and its two-hundred day moving average price is $29.10.

SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. SmartFinancial had a return on equity of 6.81% and a net margin of 11.88%. The business had revenue of $73.10 million for the quarter, compared to analysts’ expectations of $42.32 million. During the same quarter in the previous year, the business posted $0.43 EPS. As a group, research analysts forecast that SmartFinancial, Inc. will post 2.02 earnings per share for the current year.

SmartFinancial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, November 12th. SmartFinancial’s dividend payout ratio (DPR) is presently 16.49%.

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.