(NASDAQ:SMBK) shares saw heavy trading volume with 37K shares changing hands by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 426.64% over the normal average daily volume.
Traders are a little more bullish recently if you put credence in the fall in short interest. The stock realized a fall in short interest between September 29, 2017 and October 13, 2017 of -7.21%. Short interest decreased from 238,159 to 220,976 over that period. Days to cover increased from 6.0 to 23.0 and the percentage of shorted shares is 0.03% as of October 13.
Additionally, here are a few investment firms who have increased or decreased their stake in (SMBK). As of quarter end Penn Capital Management Co Inc had sold a total of 3,030 shares trimming its position 6.9%. The value of the investment in SMBK went from $1,053,000 to $988,000 a change of 6.2% for the reporting period. State Street Corp grew its ownership by buying 12,096 shares an increase of 17.1% as of 09/30/2017. State Street Corp now controls 82,891 shares with a value of $1,994,000. The value of the position overall is up by 17.8%.
As of the end of the quarter Banc Funds Co LLC had acquired 37,633 shares growing its holdings by 9.4%. The value of the total investment in Smartfinancial Cm ST increased from $9,513,000 to $10,490,000 increasing 10.3% quarter to quarter. Barnett & Company, Inc. cut its holdings by selling 3,580 shares a decrease of 13.5% from 06/30/2017 to 09/30/2017. Barnett & Company, Inc. owns 22,850 shares worth $550,000. The total value of its holdings decreased 12.8%.
In the market the company is trading down since yesterday’s close of 22.16. The company currently has a P/E ratio of 26.77 and market cap is 179.30M. As of the latest earnings report the EPS was $0.81 with 8.24M shares outstanding.
SmartFinancial, Inc., formerly Cornerstone Bancshares, Inc., launched on October 19, 1983, 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 general public and investing those funds, together with funds generated from operations and from principal and interest payments on loans, primarily in commercial loans, commercial and residential real estate loans, consumer loans, and residential and commercial construction loans. SmartBank operates in approximately seven banking offices located in East Tennessee and the Florida Panhandle, and one loan production office and one mortgage loan production office located in Panama City, Florida..