Wellington Management Group LLP Has $13.56 Million Stock Position in SmartFinancial, Inc. (NASDAQ:SMBK)

Wellington Management Group LLP raised its position in SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 28.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 437,793 shares of the bank's stock after buying an additional 97,375 shares during the quarter. Wellington Management Group LLP owned about 2.57% of SmartFinancial worth $13,563,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in shares of SmartFinancial by 269.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,538 shares of the bank's stock worth $48,000 after acquiring an additional 1,122 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in SmartFinancial in the 4th quarter valued at about $104,000. Virtus Investment Advisers Inc. acquired a new position in SmartFinancial during the fourth quarter worth approximately $124,000. Welch Group LLC acquired a new position in shares of SmartFinancial in the 4th quarter valued at about $202,000. Finally, SG Americas Securities LLC boosted its position in shares of SmartFinancial by 32.1% in the fourth quarter. SG Americas Securities LLC now owns 7,292 shares of the bank's stock worth $226,000 after buying an additional 1,771 shares during the period. Hedge funds and other institutional investors own 58.78% of the company's stock.

SmartFinancial Stock Performance

SmartFinancial stock traded up $0.09 on Thursday, reaching $31.59. 58,378 shares of the stock were exchanged, compared to its average volume of 52,702. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. SmartFinancial, Inc. has a twelve month low of $21.40 and a twelve month high of $37.72. The firm has a fifty day moving average price of $30.22 and a two-hundred day moving average price of $32.39. The stock has a market cap of $537.60 million, a PE ratio of 14.76 and a beta of 0.71.

SmartFinancial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.08 per share. The ex-dividend date was Friday, May 2nd. This represents a $0.32 annualized dividend and a yield of 1.01%. SmartFinancial's dividend payout ratio is currently 14.16%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stephens reissued an "equal weight" rating and issued a $31.00 price target on shares of SmartFinancial in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their target price on SmartFinancial from $37.00 to $35.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, SmartFinancial currently has a consensus rating of "Hold" and a consensus target price of $33.70.

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.