Corebridge Financial Inc. Sells 596 Shares of SmartFinancial, Inc. (NASDAQ:SMBK)

Corebridge Financial Inc. reduced its stake in SmartFinancial, Inc. (NASDAQ:SMBK) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,905 shares of the bank’s stock after selling 596 shares during the period. Corebridge Financial Inc.’s holdings in SmartFinancial were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Geneos Wealth Management Inc. acquired a new position in SmartFinancial in the fourth quarter valued at about $192,000. Welch Group LLC bought a new stake in shares of SmartFinancial in the 4th quarter valued at about $202,000. Ridgepath Capital Management LLC acquired a new stake in shares of SmartFinancial in the 4th quarter valued at approximately $202,000. SG Americas Securities LLC boosted its stake in SmartFinancial by 32.1% during the 4th quarter. SG Americas Securities LLC now owns 7,292 shares of the bank’s stock worth $226,000 after acquiring an additional 1,771 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in SmartFinancial during the third quarter valued at approximately $272,000. 58.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SmartFinancial

In other news, Chairman Wesley Miller Welborn acquired 1,162 shares of SmartFinancial stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost of $34.75 per share, with a total value of $40,379.50. Following the completion of the transaction, the chairman now directly owns 96,938 shares of the company’s stock, valued at approximately $3,368,595.50. This represents a 1.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.68% of the stock is owned by insiders.

SmartFinancial Trading Down 0.3 %

NASDAQ:SMBK opened at $27.08 on Friday. The business’s 50-day simple moving average is $32.37 and its 200-day simple moving average is $32.67. SmartFinancial, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $37.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $460.90 million, a PE ratio of 12.66 and a beta of 0.59.

SmartFinancial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, January 31st. SmartFinancial’s dividend payout ratio (DPR) is presently 14.95%.

Analyst Ratings Changes

Separately, Raymond James reiterated a “strong-buy” rating and issued a $42.00 target price (up from $36.00) on shares of SmartFinancial in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SmartFinancial has a consensus rating of “Hold” and a consensus price target of $30.70.

SmartFinancial Profile

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.