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

Analysts at StockNews.com initiated coverage on shares of Summit Financial Group (NASDAQ:SMMF) in a report released on Tuesday. The brokerage set a “hold” rating on the bank’s stock.

Summit Financial Group Trading Up 1.5 %

NASDAQ:SMMF opened at $27.72 on Tuesday. The firm has a 50-day moving average price of $26.29 and a two-hundred day moving average price of $26.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.92 and a current ratio of 0.92. Summit Financial Group has a 52 week low of $17.06 and a 52 week high of $31.49. The firm has a market cap of $407.04 million, a price-to-earnings ratio of 7.26 and a beta of 0.38.

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 the consensus estimate of $1.10 by $0.01. Summit Financial Group had a return on equity of 13.99% and a net margin of 20.97%. The business had revenue of $72.32 million for the quarter. On average, equities analysts expect that Summit Financial Group will post 4 earnings per share for the current fiscal year.

Institutional Trading of Summit Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Summit Financial Group by 77.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 663,348 shares of the bank’s stock worth $20,358,000 after purchasing an additional 288,487 shares during the last quarter. Summit Financial Group Inc. increased its holdings 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. EJF Capital LLC purchased a new stake in shares of Summit Financial Group during the 3rd quarter valued at $2,804,000. Axxcess Wealth Management LLC lifted its holdings in shares of Summit Financial Group by 3.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 52,849 shares of the bank’s stock worth $1,622,000 after acquiring an additional 1,954 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Summit Financial Group in the fourth quarter valued at $870,000. 35.73% of the stock is currently 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.