4,637 Shares in Summit Financial Group, Inc. (NASDAQ:SMMF) Bought by SG Americas Securities LLC

SG Americas Securities LLC bought a new stake in shares of Summit Financial Group, Inc. (NASDAQ:SMMFGet Rating) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,637 shares of the bank’s stock, valued at approximately $129,000.

Several other large investors have also made changes to their positions in SMMF. Amalgamated Bank bought a new stake in shares of Summit Financial Group in the first quarter worth about $35,000. MetLife Investment Management LLC increased its holdings in shares of Summit Financial Group by 57.9% in the first quarter. MetLife Investment Management LLC now owns 6,531 shares of the bank’s stock worth $167,000 after purchasing an additional 2,396 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Summit Financial Group in the first quarter worth about $206,000. Panagora Asset Management Inc. bought a new stake in shares of Summit Financial Group in the first quarter worth about $267,000. Finally, Prudential Financial Inc. increased its holdings in shares of Summit Financial Group by 6.7% in the first quarter. Prudential Financial Inc. now owns 11,090 shares of the bank’s stock worth $283,000 after purchasing an additional 700 shares during the last quarter. 30.51% of the stock is currently owned by hedge funds and other institutional investors.

Summit Financial Group Stock Down 1.0 %

Summit Financial Group stock opened at $28.28 on Tuesday. The business has a fifty day moving average of $28.03 and a two-hundred day moving average of $28.04. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.38. The firm has a market cap of $361.45 million, a P/E ratio of 7.29 and a beta of 0.38. Summit Financial Group, Inc. has a twelve month low of $24.27 and a twelve month high of $30.83.

Summit Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Summit Financial Group’s previous quarterly dividend of $0.18. Summit Financial Group’s dividend payout ratio is currently 20.62%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SMMF shares. StockNews.com raised Summit Financial Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Piper Sandler boosted their price target on Summit Financial Group to $31.00 in a report on Tuesday, November 1st. Finally, DA Davidson reiterated a “neutral” rating on shares of Summit Financial Group in a report on Wednesday, July 27th.

About Summit Financial Group

(Get Rating)

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.

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Institutional Ownership by Quarter for Summit Financial Group (NASDAQ:SMMF)

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