120,029 Shares in SmartFinancial, Inc. (NASDAQ:SMBK) Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. acquired a new position in shares of SmartFinancial, Inc. (NASDAQ:SMBK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 120,029 shares of the bank’s stock, valued at approximately $3,718,000.

A number of other large investors have also recently bought and sold shares of the company. Barclays PLC raised its position in shares of SmartFinancial by 78.6% in the 3rd quarter. Barclays PLC now owns 22,848 shares of the bank’s stock valued at $666,000 after buying an additional 10,055 shares in the last quarter. Geode Capital Management LLC raised its position in SmartFinancial by 0.4% during the third quarter. Geode Capital Management LLC now owns 335,501 shares of the bank’s stock valued at $9,779,000 after purchasing an additional 1,307 shares in the last quarter. Jane Street Group LLC lifted its stake in 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 purchasing an additional 967 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of SmartFinancial by 69.0% in the 3rd quarter. Wellington Management Group LLP now owns 340,418 shares of the bank’s stock valued at $9,920,000 after purchasing an additional 139,009 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of SmartFinancial in the 4th quarter valued at $917,000. 58.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

SmartFinancial Trading Down 1.3 %

NASDAQ SMBK opened at $31.13 on Friday. SmartFinancial, Inc. has a twelve month low of $19.00 and a twelve month high of $37.72. The business’s fifty day moving average is $33.74 and its 200 day moving average is $32.64. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a market cap of $526.91 million, a price-to-earnings ratio of 14.55 and a beta of 0.67.

SmartFinancial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, January 31st. SmartFinancial’s dividend payout ratio (DPR) is currently 14.95%.

Insider Transactions at SmartFinancial

In other SmartFinancial news, Chairman Wesley Miller Welborn purchased 1,162 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of $34.75 per share, for a total transaction of $40,379.50. Following the completion of the acquisition, the chairman now owns 96,938 shares in the company, valued at approximately $3,368,595.50. This trade represents a 1.21 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.68% of the company’s stock.

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, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.