Axxcess Wealth Management LLC Has $1.62 Million Stock Holdings in Summit Financial Group, Inc. (NASDAQ:SMMF)

Axxcess Wealth Management LLC raised its position in Summit Financial Group, Inc. (NASDAQ:SMMF) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,849 shares of the bank’s stock after acquiring an additional 1,954 shares during the period. Axxcess Wealth Management LLC’s holdings in Summit Financial Group were worth $1,622,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Summit Financial Group in the 3rd quarter valued at approximately $111,000. Cerity Partners LLC bought a new stake in shares of Summit Financial Group in the 4th quarter valued at approximately $238,000. Burney Co. bought a new stake in shares of Summit Financial Group in the 3rd quarter valued at approximately $215,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Summit Financial Group in the 3rd quarter valued at approximately $585,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Summit Financial Group in the 4th quarter valued at approximately $870,000. Institutional investors and hedge funds own 35.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Summit Financial Group from a “hold” rating to a “buy” rating in a research report on Thursday.

Summit Financial Group Stock Down 2.5 %

Shares of SMMF opened at $25.70 on Monday. The firm has a market capitalization of $377.28 million, a price-to-earnings ratio of 6.62 and a beta of 0.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.92 and a current ratio of 0.92. The business’s fifty day moving average price is $26.22 and its two-hundred day moving average price is $26.22. Summit Financial Group, Inc. has a 52 week low of $17.06 and a 52 week high of $31.49.

Summit Financial Group Dividend Announcement

The company also recently disclosed 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 was Thursday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.42%. Summit Financial Group’s payout ratio is 22.68%.

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.