Summit Financial Group (NASDAQ:SMMF) Now Covered by 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 Stock Up 0.1 %

Shares of Summit Financial Group stock opened at $27.45 on Tuesday. The company has a market cap of $402.97 million, a price-to-earnings ratio of 7.19 and a beta of 0.38. The company’s 50 day moving average is $26.28 and its 200 day moving average is $26.05. Summit Financial Group has a twelve month low of $17.06 and a twelve month high of $31.49. 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 issued its quarterly earnings data on Thursday, January 25th. The bank reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. The company had revenue of $72.32 million for the quarter. Summit Financial Group had a net margin of 20.97% and a return on equity of 13.99%. Research analysts anticipate that Summit Financial Group will post 4 EPS for the current year.

Summit Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.88 annualized dividend and a yield of 3.21%. Summit Financial Group’s payout ratio is presently 23.04%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Summit Financial Group Inc. raised its position in Summit Financial Group by 4.7% in the first quarter. Summit Financial Group Inc. now owns 219,386 shares of the bank’s stock worth $5,959,000 after acquiring an additional 9,923 shares during the period. Virtu Financial LLC bought a new position in Summit Financial Group in the fourth quarter worth approximately $384,000. Trexquant Investment LP bought a new position in Summit Financial Group in the fourth quarter worth approximately $264,000. Hillsdale Investment Management Inc. bought a new position in Summit Financial Group in the fourth quarter worth approximately $187,000. Finally, First United Bank & Trust purchased a new stake in shares of Summit Financial Group in the fourth quarter worth $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.