American Century Companies Inc. Raises Holdings in SmartFinancial, Inc. (NASDAQ:SMBK)

American Century Companies Inc. increased its position in SmartFinancial, Inc. (NASDAQ:SMBK) by 36.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,465 shares of the bank’s stock after buying an additional 5,948 shares during the quarter. American Century Companies Inc. owned about 0.15% of SmartFinancial worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its position in SmartFinancial by 5.1% in the first quarter. Royal Bank of Canada now owns 9,750 shares of the bank’s stock valued at $211,000 after purchasing an additional 475 shares during the period. Bank of New York Mellon Corp raised its position in SmartFinancial by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 60,694 shares of the bank’s stock valued at $1,314,000 after purchasing an additional 532 shares during the period. Russell Investments Group Ltd. raised its position in SmartFinancial by 3.4% in the first quarter. Russell Investments Group Ltd. now owns 30,463 shares of the bank’s stock valued at $657,000 after purchasing an additional 995 shares during the period. BHZ Capital Management LP raised its position in SmartFinancial by 0.9% in the first quarter. BHZ Capital Management LP now owns 146,877 shares of the bank’s stock valued at $3,180,000 after purchasing an additional 1,265 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in SmartFinancial by 85.1% in the first quarter. BNP Paribas Arbitrage SA now owns 6,788 shares of the bank’s stock valued at $147,000 after purchasing an additional 3,120 shares during the period. 44.91% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SMBK opened at $24.78 on Tuesday. The company has a market capitalization of $374.43 million, a price-to-earnings ratio of 11.06 and a beta of 0.77. SmartFinancial, Inc. has a one year low of $12.70 and a one year high of $25.48. The stock has a 50-day simple moving average of $24.69 and a 200 day simple moving average of $23.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.99 and a current ratio of 1.00.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings results on Monday, July 19th. The bank reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.09. The business had revenue of $32.04 million during the quarter, compared to the consensus estimate of $30.35 million. SmartFinancial had a return on equity of 9.61% and a net margin of 24.48%. On average, equities research analysts forecast that SmartFinancial, Inc. will post 2.15 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 23rd. Investors of record on Friday, August 6th were paid a $0.06 dividend. The ex-dividend date was Thursday, August 5th. This represents a $0.24 dividend on an annualized basis and a yield of 0.97%. SmartFinancial’s dividend payout ratio (DPR) is 13.19%.

Several research analysts have commented on SMBK shares. Stephens raised their price objective on SmartFinancial from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 22nd. Raymond James restated a “strong-buy” rating and set a $30.00 target price (up from $27.00) on shares of SmartFinancial in a research note on Wednesday, July 21st. Finally, Zacks Investment Research downgraded SmartFinancial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 27th.

SmartFinancial Profile

SmartFinancial, Inc is a holding company, which engages in the provision of commercial banking services through SmartBank. The firm manages branches and loan production offices in a footprint spanning East Tennessee, Southwest Alabama, the Florida Panhandle, and North Georgia. It operates through the following portfolio segments: Commercial Real Estate; Consumer Real Estate; Construction and Land Development; Commercial and Industrial; and Consumer and Other.

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Institutional Ownership by Quarter for SmartFinancial (NASDAQ:SMBK)

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