Summit Financial Group (NASDAQ:SMMF) Receives New Coverage from Analysts at StockNews.com

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

Summit Financial Group Price Performance

Shares of Summit Financial Group stock opened at $27.35 on Tuesday. 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 firm’s 50-day simple moving average is $26.25 and its 200-day simple moving average is $25.96. Summit Financial Group has a twelve month low of $17.06 and a twelve month high of $31.49. The firm has a market cap of $401.50 million, a P/E ratio of 7.16 and a beta of 0.38.

Summit Financial Group (NASDAQ:SMMF) last issued its earnings results on Thursday, January 25th. The bank reported $1.11 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $72.32 million for the quarter. As a group, research analysts expect that Summit Financial Group will post 4 EPS for the current fiscal year.

Hedge Funds Weigh In On Summit Financial Group

Several institutional investors have recently added to or reduced their stakes in SMMF. SG Americas Securities LLC bought a new position in Summit Financial Group during the 3rd quarter valued at about $111,000. Emerald Mutual Fund Advisers Trust bought a new position in Summit Financial Group during the 3rd quarter valued at about $585,000. Burney Co. bought a new position in Summit Financial Group during the 3rd quarter valued at about $215,000. Axxcess Wealth Management LLC raised its stake in shares of Summit Financial Group by 0.9% in the third quarter. Axxcess Wealth Management LLC now owns 50,895 shares of the bank’s stock worth $1,147,000 after acquiring an additional 450 shares during the last quarter. Finally, EJF Capital LLC bought a new position in shares of Summit Financial Group in the third quarter worth about $2,804,000. 35.73% of the stock is 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.