Private Capital Management LLC Has $6.46 Million Position in SmartFinancial Inc (NASDAQ:SMBK)

Private Capital Management LLC boosted its holdings in SmartFinancial Inc (NASDAQ:SMBK) by 74.3% in the 1st quarter, Holdings Channel reports. The firm owned 341,329 shares of the bank’s stock after buying an additional 145,465 shares during the quarter. Private Capital Management LLC’s holdings in SmartFinancial were worth $6,455,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SMBK. BNP Paribas Arbitrage SA increased its stake in SmartFinancial by 519.6% during the first quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the bank’s stock worth $45,000 after acquiring an additional 1,985 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in SmartFinancial by 356.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,111 shares of the bank’s stock worth $75,000 after acquiring an additional 3,211 shares during the last quarter. Citigroup Inc. increased its stake in SmartFinancial by 70.8% during the first quarter. Citigroup Inc. now owns 5,216 shares of the bank’s stock worth $99,000 after acquiring an additional 2,162 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in SmartFinancial by 84.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,160 shares of the bank’s stock worth $175,000 after acquiring an additional 4,195 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in SmartFinancial by 9.0% during the first quarter. Acadian Asset Management LLC now owns 13,287 shares of the bank’s stock worth $251,000 after acquiring an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 38.73% of the company’s stock.

Several brokerages have commented on SMBK. BidaskClub upgraded SmartFinancial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. FIG Partners restated an “outperform” rating on shares of SmartFinancial in a research note on Thursday, April 25th. Zacks Investment Research upgraded SmartFinancial from a “sell” rating to a “hold” rating in a research note on Saturday, April 20th. ValuEngine raised SmartFinancial from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Sandler O’Neill initiated coverage on SmartFinancial in a research report on Monday, March 4th. They issued a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.50.

In related news, Director Monique Berke bought 4,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was bought at an average price of $21.21 per share, with a total value of $84,840.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.82% of the stock is owned by corporate insiders.

Shares of NASDAQ SMBK traded up $0.01 on Friday, hitting $21.11. The company had a trading volume of 435 shares, compared to its average volume of 20,567. SmartFinancial Inc has a 12-month low of $16.17 and a 12-month high of $27.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $292.31 million, a price-to-earnings ratio of 13.59 and a beta of 0.53.

SmartFinancial (NASDAQ:SMBK) last issued its earnings results on Wednesday, April 24th. The bank reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.04). SmartFinancial had a return on equity of 7.91% and a net margin of 18.23%. The company had revenue of $22.70 million during the quarter, compared to analysts’ expectations of $23.06 million. Research analysts expect that SmartFinancial Inc will post 1.7 EPS for the current fiscal year.

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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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