Y Intercept Hong Kong Ltd Makes New $792,000 Investment in SmartFinancial, Inc. $SMBK

Y Intercept Hong Kong Ltd bought a new stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 20,275 shares of the bank’s stock, valued at approximately $792,000.

Several other hedge funds also recently modified their holdings of SMBK. Kemnay Advisory Services Inc. acquired a new stake in shares of SmartFinancial during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of SmartFinancial by 46.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the bank’s stock worth $51,000 after buying an additional 472 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in SmartFinancial by 173.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,895 shares of the bank’s stock valued at $64,000 after buying an additional 1,202 shares during the period. State of Alaska Department of Revenue lifted its holdings in SmartFinancial by 209.1% in the fourth quarter. State of Alaska Department of Revenue now owns 2,105 shares of the bank’s stock valued at $77,000 after buying an additional 1,424 shares during the period. Finally, Lazard Asset Management LLC bought a new position in SmartFinancial in the second quarter valued at approximately $128,000. Institutional investors own 58.78% of the company’s stock.

SmartFinancial Stock Performance

Shares of SMBK stock opened at $46.47 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. SmartFinancial, Inc. has a 52 week low of $32.63 and a 52 week high of $49.06. The company’s 50 day moving average price is $43.60 and its two-hundred day moving average price is $41.15. The company has a market capitalization of $794.60 million, a P/E ratio of 21.72 and a beta of 0.70.

SmartFinancial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.09 per share. This is a positive change from SmartFinancial’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. SmartFinancial’s payout ratio is currently 11.54%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of SmartFinancial from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. Benchmark assumed coverage on SmartFinancial in a research note on Wednesday, June 24th. They issued a “buy” rating and a $54.00 price target on the stock. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $50.00 price target on shares of SmartFinancial in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.50.

Insiders Place Their Bets

In related news, Director Cathy G. Ackermann bought 3,000 shares of SmartFinancial stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $42.12 per share, with a total value of $126,360.00. Following the purchase, the director owned 19,831 shares in the company, valued at approximately $835,281.72. This trade represents a 17.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Victor Lynn Barrett bought 3,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were purchased at an average price of $43.78 per share, with a total value of $131,340.00. Following the acquisition, the director owned 151,724 shares in the company, valued at approximately $6,642,476.72. This represents a 2.02% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 6,290 shares of company stock worth $269,677. 6.93% of the stock is currently owned by company insiders.

SmartFinancial Company Profile

SmartFinancial, Inc is a bank holding company headquartered in Knoxville, Tennessee, operating through its primary subsidiary, SmartBank. Incorporated in 2006, the company provides a full suite of banking and financial services to individuals, small and middle-market businesses and public entities across its regional footprint. SmartFinancial’s network of branch offices and digital platforms combines community-banking relationships with modern technology to serve its customers’ evolving needs.

Through SmartBank, the company offers a broad range of deposit products, including checking, savings and certificate of deposit accounts, alongside consumer and commercial lending solutions.