Wellington Management Group LLP Buys 97,375 Shares of SmartFinancial, Inc. (NASDAQ:SMBK)

Wellington Management Group LLP boosted its stake in SmartFinancial, Inc. (NASDAQ:SMBK - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,793 shares of the bank's stock after buying an additional 97,375 shares during the quarter. Wellington Management Group LLP owned approximately 2.57% of SmartFinancial worth $13,563,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SMBK. JPMorgan Chase & Co. lifted its position in SmartFinancial by 130.6% during the 4th quarter. JPMorgan Chase & Co. now owns 75,527 shares of the bank's stock valued at $2,340,000 after purchasing an additional 42,771 shares during the period. Barclays PLC increased its stake in shares of SmartFinancial by 14.2% in the 4th quarter. Barclays PLC now owns 26,095 shares of the bank's stock valued at $808,000 after acquiring an additional 3,247 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in SmartFinancial during the 4th quarter worth approximately $917,000. Charles Schwab Investment Management Inc. increased its stake in SmartFinancial by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,448 shares of the bank's stock worth $1,377,000 after purchasing an additional 550 shares in the last quarter. Finally, SG Americas Securities LLC increased 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 purchasing an additional 1,771 shares in the last quarter. Institutional investors and hedge funds own 58.78% of the company's stock.

SmartFinancial Stock Performance

Shares of SMBK stock traded up $0.81 on Friday, hitting $32.42. 61,397 shares of the stock were exchanged, compared to its average volume of 53,006. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $551.74 million, a PE ratio of 15.15 and a beta of 0.71. SmartFinancial, Inc. has a one year low of $21.40 and a one year high of $37.72. The firm's 50 day moving average is $30.26 and its two-hundred day moving average is $32.34.

SmartFinancial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Friday, May 2nd were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.32 annualized dividend and a yield of 0.99%. SmartFinancial's dividend payout ratio is currently 14.16%.

Wall Street Analyst Weigh In

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

About SmartFinancial

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.