Summit Financial Group (SMMF) Announces Earnings Results

Summit Financial Group (NASDAQ:SMMF) posted its quarterly earnings results on Thursday. The bank reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55, MarketWatch Earnings reports. The firm had revenue of $21.42 million during the quarter, compared to the consensus estimate of $22.48 million. Summit Financial Group had a return on equity of 12.85% and a net margin of 20.89%.

Shares of NASDAQ SMMF opened at $20.66 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.19. Summit Financial Group has a 12 month low of $20.40 and a 12 month high of $28.16. The company has a market cap of $260.66 million, a PE ratio of 9.81, a price-to-earnings-growth ratio of 1.19 and a beta of 0.64.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.52 annualized dividend and a dividend yield of 2.52%. Summit Financial Group’s dividend payout ratio is currently 27.51%.

Several research analysts have recently commented on the company. BidaskClub downgraded Summit Financial Group from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research upgraded Summit Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, ValuEngine downgraded Summit Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, September 24th.

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 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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