Walthausen & Co. LLC Purchases 13,550 Shares of SmartFinancial Inc (NASDAQ:SMBK)

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Walthausen & Co. LLC grew its stake in SmartFinancial Inc (NASDAQ:SMBK) by 24.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,192 shares of the bank’s stock after acquiring an additional 13,550 shares during the period. Walthausen & Co. LLC owned 0.49% of SmartFinancial worth $1,613,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the stock. New York State Teachers Retirement System bought a new stake in shares of SmartFinancial during the fourth quarter worth $26,000. Meeder Asset Management Inc. grew its position in shares of SmartFinancial by 116.7% during the 4th quarter. Meeder Asset Management Inc. now owns 1,300 shares of the bank’s stock valued at $31,000 after acquiring an additional 700 shares during the period. Bank of Montreal Can lifted its stake in shares of SmartFinancial by 45.0% during the 4th quarter. Bank of Montreal Can now owns 1,617 shares of the bank’s stock valued at $38,000 after buying an additional 502 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in SmartFinancial in the 3rd quarter worth approximately $85,000. Finally, Marshall Wace LLP purchased a new stake in shares of SmartFinancial during the 4th quarter valued at $147,000. Institutional investors and hedge funds own 40.36% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. ValuEngine raised shares of SmartFinancial from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Zacks Investment Research upgraded shares of SmartFinancial from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, BidaskClub lowered shares of SmartFinancial from a “sell” rating to a “strong sell” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $24.67.

In other SmartFinancial news, Chairman Wesley Miller Welborn purchased 5,450 shares of SmartFinancial stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $21.49 per share, with a total value of $117,120.50. Following the transaction, the chairman now owns 62,427 shares of the company’s stock, valued at approximately $1,341,556.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ted Charles Miller purchased 10,000 shares of SmartFinancial stock in a transaction on Monday, March 9th. The shares were acquired at an average cost of $19.01 per share, with a total value of $190,100.00. Following the completion of the transaction, the director now directly owns 128,458 shares in the company, valued at approximately $2,441,986.58. The disclosure for this purchase can be found here. Insiders purchased a total of 20,450 shares of company stock valued at $389,021 over the last ninety days. 9.82% of the stock is currently owned by insiders.

Shares of SMBK traded up $1.88 during midday trading on Thursday, hitting $15.09. The stock had a trading volume of 45,600 shares, compared to its average volume of 40,568. SmartFinancial Inc has a 1 year low of $11.05 and a 1 year high of $23.99. The firm has a market cap of $234.24 million, a PE ratio of 7.98 and a beta of 0.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day moving average is $18.29 and its 200 day moving average is $21.14.

SmartFinancial (NASDAQ:SMBK) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $23.94 million during the quarter, compared to analyst estimates of $23.31 million. SmartFinancial had a net margin of 21.45% and a return on equity of 7.81%. As a group, equities research analysts expect that SmartFinancial Inc will post 1.46 earnings per share for the current fiscal year.

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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