BlackRock Amends SMARTFINANCIAL Stake to 6.9%
Ticker: SMBK · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 1038773
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns 6.9% of SMARTFINANCIAL, showing continued institutional confidence.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 25, 2024, disclosing its ownership in SMARTFINANCIAL INC. as of December 31, 2023. BlackRock now beneficially owns 1,029,910 shares of SMARTFINANCIAL's Common Stock, representing 6.9% of the company. This is an update to their previous filing, indicating a slight adjustment in their passive investment stake. This matters to investors because BlackRock is a major institutional investor, and their continued significant, albeit slightly adjusted, holding signals ongoing confidence in SMARTFINANCIAL's long-term prospects, which could influence other investors.
Why It Matters
BlackRock's updated filing shows they remain a significant shareholder in SMARTFINANCIAL, which can be seen as a vote of confidence from a major institutional investor. This stability in institutional ownership can reassure other investors about the company's long-term outlook.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institutional investor, BlackRock, with no immediate signs of a change in strategy or significant risk.
Analyst Insight
Investors should note BlackRock's continued, stable institutional ownership in SMARTFINANCIAL INC., which suggests a long-term, passive investment strategy. This information can be used as a data point when evaluating the company's institutional support, but it doesn't signal any immediate catalysts or changes in company direction.
Key Numbers
- 1,029,910 — Shares owned by BlackRock (Represents BlackRock's beneficial ownership in SMARTFINANCIAL INC. as of December 31, 2023.)
- 6.9% — Percentage of class owned (Indicates BlackRock's significant stake in SMARTFINANCIAL INC., signaling their continued investment.)
- December 31, 2023 — Reporting Date (The date for which the ownership information is reported, providing a snapshot of BlackRock's holdings.)
- January 25, 2024 — Filing Date (The date the amended SC 13G/A was filed with the SEC, making the information public.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- SMARTFINANCIAL INC. (company) — the subject company in which BlackRock holds shares
- 1,029,910 shares (dollar_amount) — the number of shares of Common Stock beneficially owned by BlackRock
- 6.9% (dollar_amount) — the percentage of SMARTFINANCIAL's Common Stock beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 25, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- BlackRock will maintain a significant, passive stake in SMARTFINANCIAL INC. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
Who filed this SC 13G/A amendment?
BlackRock Inc. filed this SC 13G/A amendment, as indicated in the 'FILED BY' section of the filing.
What company's shares are the subject of this filing?
The shares of SMARTFINANCIAL INC. are the subject of this filing, specifically their Common Stock, as stated under 'Name of Issuer'.
What percentage of SMARTFINANCIAL INC. does BlackRock Inc. beneficially own as of the reporting date?
As of December 31, 2023, BlackRock Inc. beneficially owns 6.9% of SMARTFINANCIAL INC.'s Common Stock, as reported in the filing.
How many shares of SMARTFINANCIAL INC. Common Stock does BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owns 1,029,910 shares of SMARTFINANCIAL INC. Common Stock, according to the filing.
What was the date of the event that required this filing?
The date of the event which required this filing was December 31, 2023, as specified in the 'Date of Event Which Requires Filing of this Statement' section.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding SMARTFINANCIAL INC. (SMBK).