SmartFinancial (SMBK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of SmartFinancial (NASDAQ:SMBK) from a sell rating to a hold rating in a report published on Friday.

According to Zacks, “SmartFinancial, Inc. is a bank holding company which provide banking services to individuals and corporate through its subsidiaries SmartBank and Cornerstone Community Bank. It offers deposit products, loan products, e-banking services consisting of online bill payments, smart pay, e-statements, mobile banking as well as debit and credit cards. SmartFinancial, Inc. is based in Knoxville, Tennessee. “

SmartFinancial (NASDAQ:SMBK) traded up $0.06 during midday trading on Friday, reaching $22.26. The company had a trading volume of 17,200 shares, compared to its average volume of 23,940. The company has a market cap of $183.01, a price-to-earnings ratio of 27.48 and a beta of 0.25. SmartFinancial has a 1-year low of $17.17 and a 1-year high of $26.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.96 and a current ratio of 0.96.

A number of large investors have recently bought and sold shares of SMBK. Emerald Mutual Fund Advisers Trust lifted its holdings in SmartFinancial by 100.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 200,000 shares of the bank’s stock worth $4,812,000 after buying an additional 100,000 shares in the last quarter. State Street Corp acquired a new position in SmartFinancial during the 2nd quarter worth $1,692,000. Northern Trust Corp acquired a new position in SmartFinancial during the 2nd quarter worth $1,686,000. Vanguard Group Inc. lifted its holdings in SmartFinancial by 41.6% during the 2nd quarter. Vanguard Group Inc. now owns 225,156 shares of the bank’s stock worth $5,377,000 after buying an additional 66,143 shares in the last quarter. Finally, Context BH Capital Management LP acquired a new position in SmartFinancial during the 3rd quarter worth $991,000. 39.79% of the stock is currently owned by hedge funds and other institutional investors.

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About SmartFinancial

SmartFinancial, Inc, formerly Cornerstone Bancshares, Inc, is a bank holding company. The Company operates through its SmartBank subsidiary (The Bank). The principal business of the Bank consists of attracting deposits from the public and investing those funds, together with funds generated from operations and from principal and interest payments on loans.

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