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

Wellington Management Group LLP increased its stake in shares of SmartFinancial, Inc. (NASDAQ:SMBK) by 28.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 437,793 shares of the bank’s stock after purchasing an additional 97,375 shares during the quarter. Wellington Management Group LLP owned about 2.59% of SmartFinancial worth $13,563,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in shares of SmartFinancial during the fourth quarter valued at approximately $192,000. Welch Group LLC acquired a new position in SmartFinancial in the fourth quarter valued at approximately $202,000. Ridgepath Capital Management LLC acquired a new position in SmartFinancial in the fourth quarter valued at approximately $202,000. SG Americas Securities LLC lifted its holdings in SmartFinancial by 32.1% in the fourth quarter. SG Americas Securities LLC now owns 7,292 shares of the bank’s stock valued at $226,000 after buying an additional 1,771 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in SmartFinancial in the third quarter valued at approximately $226,000. 58.78% of the stock is owned by institutional investors.

SmartFinancial Trading Up 3.2 %

SMBK opened at $28.50 on Thursday. The firm’s fifty day moving average is $32.69 and its two-hundred day moving average is $32.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $484.93 million, a PE ratio of 13.32 and a beta of 0.59. SmartFinancial, Inc. has a twelve month low of $19.00 and a twelve month high of $37.72.

SmartFinancial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.32 annualized dividend and a yield of 1.12%. SmartFinancial’s dividend payout ratio (DPR) is presently 14.95%.

Analysts Set New Price Targets

Separately, Raymond James restated a “strong-buy” rating and issued a $42.00 price objective (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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.70.

Insiders Place Their Bets

In other news, Chairman Wesley Miller Welborn bought 1,162 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were bought at an average cost of $34.75 per share, for a total transaction of $40,379.50. Following the completion of the acquisition, the chairman now owns 96,938 shares in the company, valued at approximately $3,368,595.50. This trade represents a 1.21 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.68% of the company’s stock.

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.