Summit Financial Group (NASDAQ:SMMF) Releases Earnings Results, Beats Estimates By $0.27 EPS

Summit Financial Group (NASDAQ:SMMF) announced its quarterly earnings data on Thursday. The bank reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.27, MarketWatch Earnings reports. Summit Financial Group had a net margin of 21.93% and a return on equity of 11.12%. The business had revenue of $26.66 million for the quarter, compared to analyst estimates of $26.40 million.

Shares of NASDAQ SMMF opened at $15.04 on Friday. The company’s 50 day simple moving average is $15.53 and its 200 day simple moving average is $18.87. Summit Financial Group has a fifty-two week low of $13.48 and a fifty-two week high of $27.83. The firm has a market capitalization of $195.10 million, a P/E ratio of 6.87 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92.

Separately, Zacks Investment Research upgraded shares of Summit Financial Group from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a report on Tuesday, July 7th.

About Summit Financial Group

Summit Financial Group, Inc operates as a financial holding company for Summit Community Bank, Inc that provides community banking and other financial services to individuals and businesses primarily in the Eastern Panhandle and South Central regions of West Virginia and the Shenandoah Valley, and Southwestern regions of Virginia.

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Earnings History for Summit Financial Group (NASDAQ:SMMF)

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