Summit Financial Group (NASDAQ:SMMF) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Summit Financial Group (NASDAQ:SMMF) in a research report released on Tuesday morning. The firm issued a hold rating on the bank’s stock.

Summit Financial Group Stock Down 0.2 %

Shares of SMMF opened at $27.30 on Tuesday. The company has a market capitalization of $400.76 million, a price-to-earnings ratio of 7.15 and a beta of 0.38. Summit Financial Group has a 52 week low of $17.06 and a 52 week high of $31.49. The stock’s 50-day moving average price is $26.27 and its 200-day moving average price is $25.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.29.

Summit Financial Group (NASDAQ:SMMF) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. The company had revenue of $72.32 million during the quarter. Summit Financial Group had a return on equity of 13.99% and a net margin of 20.97%. On average, sell-side analysts predict that Summit Financial Group will post 4 EPS for the current year.

Summit Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.22%. Summit Financial Group’s payout ratio is 23.04%.

Institutional Investors Weigh In On Summit Financial Group

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Summit Financial Group in the 3rd quarter worth about $111,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Summit Financial Group in the third quarter valued at approximately $585,000. Burney Co. acquired a new position in shares of Summit Financial Group during the 3rd quarter worth approximately $215,000. Axxcess Wealth Management LLC lifted its position in shares of Summit Financial Group by 0.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 50,895 shares of the bank’s stock valued at $1,147,000 after buying an additional 450 shares in the last quarter. Finally, EJF Capital LLC acquired a new stake in Summit Financial Group in the 3rd quarter valued at $2,804,000. 35.73% of the stock is owned by hedge funds and other institutional investors.

Summit Financial Group Company Profile

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, Southern and North Central regions of West Virginia and the Northern, Shenandoah Valley, and Southwestern regions of Virginia, and the Central region of Kentucky.