Summit Financial Group (NASDAQ:SMMF) Coverage Initiated by Analysts at StockNews.com

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

Summit Financial Group Stock Performance

NASDAQ SMMF opened at $27.30 on Tuesday. 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 has a twelve month low of $17.06 and a twelve month high of $31.49. The business has a 50-day moving average price of $26.27 and a 200-day moving average price of $25.99. The firm has a market cap of $400.76 million, a price-to-earnings ratio of 7.15 and a beta of 0.38.

Summit Financial Group (NASDAQ:SMMF) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.01. The business 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%. As a group, equities research analysts predict that Summit Financial Group will post 4 EPS for the current fiscal year.

Summit Financial Group Dividend Announcement

The business also recently declared 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 was Thursday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.22%. Summit Financial Group’s dividend payout ratio is currently 23.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SMMF. First United Bank & Trust bought a new stake in shares of Summit Financial Group in the fourth quarter worth about $70,000. SG Americas Securities LLC purchased a new position in Summit Financial Group during the 3rd quarter valued at approximately $111,000. Hillsdale Investment Management Inc. bought a new stake in Summit Financial Group in the 4th quarter worth approximately $187,000. Cerity Partners LLC purchased a new stake in shares of Summit Financial Group during the 4th quarter worth approximately $238,000. Finally, NTV Asset Management LLC bought a new position in shares of Summit Financial Group during the 4th quarter valued at approximately $255,000. Institutional investors own 35.73% of the company’s stock.

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