Summit Financial Group (NASDAQ:SMMF) Earns Hold Rating from Analysts at StockNews.com

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

Summit Financial Group Trading Up 0.1 %

NASDAQ SMMF opened at $27.45 on Tuesday. Summit Financial Group has a 12 month low of $17.06 and a 12 month high of $31.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $402.97 million, a price-to-earnings ratio of 7.19 and a beta of 0.38. The company’s fifty day moving average price is $26.28 and its two-hundred day moving average price is $26.05.

Summit Financial Group (NASDAQ:SMMF) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. Summit Financial Group had a net margin of 20.97% and a return on equity of 13.99%. The firm had revenue of $72.32 million for the quarter. As a group, research analysts predict that Summit Financial Group will post 4 earnings per share for the current fiscal year.

Summit Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.22 per share. 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 3.21%. Summit Financial Group’s dividend payout ratio (DPR) is 23.04%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Summit Financial Group Inc. lifted its position in shares of Summit Financial Group by 4.7% in the 1st quarter. Summit Financial Group Inc. now owns 219,386 shares of the bank’s stock worth $5,959,000 after buying an additional 9,923 shares during the last quarter. Virtu Financial LLC acquired a new position in Summit Financial Group during the 4th quarter valued at about $384,000. Trexquant Investment LP acquired a new position in shares of Summit Financial Group in the 4th quarter worth approximately $264,000. Hillsdale Investment Management Inc. acquired a new position in shares of Summit Financial Group in the 4th quarter worth approximately $187,000. Finally, First United Bank & Trust acquired a new position in shares of Summit Financial Group in the 4th quarter worth approximately $70,000. 35.73% of the stock is currently owned by institutional investors.

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.