Bank of America Corp DE lowered its holdings in SmartFinancial Inc (NASDAQ:SMBK) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,425 shares of the bank’s stock after selling 739 shares during the quarter. Bank of America Corp DE’s holdings in SmartFinancial were worth $757,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. MetLife Investment Advisors LLC grew its position in SmartFinancial by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 9,032 shares of the bank’s stock valued at $213,000 after purchasing an additional 3,211 shares during the period. Rhumbline Advisers grew its position in SmartFinancial by 44.8% in the 4th quarter. Rhumbline Advisers now owns 15,938 shares of the bank’s stock valued at $291,000 after purchasing an additional 4,934 shares during the period. Geode Capital Management LLC grew its position in SmartFinancial by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 87,320 shares of the bank’s stock valued at $1,595,000 after purchasing an additional 6,450 shares during the period. Bank of New York Mellon Corp grew its position in SmartFinancial by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 48,586 shares of the bank’s stock valued at $887,000 after purchasing an additional 8,847 shares during the period. Finally, Evergreen Advisors LLC purchased a new position in SmartFinancial during the 4th quarter worth $201,000. 34.77% of the stock is owned by institutional investors and hedge funds.

SMBK opened at $20.79 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. The firm has a market cap of $292.81 million, a price-to-earnings ratio of 13.41 and a beta of 0.54. SmartFinancial Inc has a 1 year low of $16.17 and a 1 year high of $27.69.

SmartFinancial (NASDAQ:SMBK) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.04). The firm had revenue of $22.70 million for the quarter, compared to analysts’ expectations of $23.06 million. SmartFinancial had a return on equity of 8.14% and a net margin of 18.23%. On average, analysts expect that SmartFinancial Inc will post 1.72 EPS for the current fiscal year.

A number of equities analysts have issued reports on the stock. BidaskClub raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. ValuEngine raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a report on Tuesday. FIG Partners reaffirmed an “outperform” rating on shares of SmartFinancial in a report on Thursday, April 25th. Zacks Investment Research raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a report on Saturday, April 20th. Finally, Sandler O’Neill assumed coverage on shares of SmartFinancial in a report on Monday, March 4th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. SmartFinancial has a consensus rating of “Buy” and an average target price of $24.50.

In other news, Director Monique Berke acquired 4,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $21.21 per share, with a total value of $84,840.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.82% of the stock is owned by insiders.

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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, Florida, and Georgia. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit.

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Institutional Ownership by Quarter for SmartFinancial (NASDAQ:SMBK)

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