SG Americas Securities LLC Purchases 1,180 Shares of Summit Financial Group, Inc. (NASDAQ:SMMF)

SG Americas Securities LLC lifted its position in shares of Summit Financial Group, Inc. (NASDAQ:SMMF) by 24.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,090 shares of the bank’s stock after acquiring an additional 1,180 shares during the quarter. SG Americas Securities LLC’s holdings in Summit Financial Group were worth $187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EJF Capital LLC bought a new position in shares of Summit Financial Group during the 3rd quarter worth $2,804,000. Axxcess Wealth Management LLC boosted its stake in Summit Financial Group by 0.9% in the 3rd quarter. Axxcess Wealth Management LLC now owns 50,895 shares of the bank’s stock worth $1,147,000 after purchasing an additional 450 shares during the period. Burney Co. bought a new position in Summit Financial Group in the 3rd quarter worth about $215,000. Emerald Mutual Fund Advisers Trust bought a new position in Summit Financial Group in the 3rd quarter worth about $585,000. Finally, BNP Paribas Arbitrage SNC boosted its stake in Summit Financial Group by 30.9% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 6,544 shares of the bank’s stock worth $136,000 after purchasing an additional 1,546 shares during the period. Institutional investors own 35.73% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Summit Financial Group in a research note on Sunday, April 7th. They issued a “hold” rating for the company.

Summit Financial Group Stock Down 0.8 %

Shares of NASDAQ SMMF opened at $25.12 on Friday. Summit Financial Group, Inc. has a 52 week low of $17.06 and a 52 week high of $31.49. The business has a 50-day simple moving average of $26.45 and a two-hundred day simple moving average of $25.81. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.29. The company has a market cap of $368.76 million, a P/E ratio of 6.58 and a beta of 0.38.

Summit Financial Group (NASDAQ:SMMF) last released its quarterly 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 return on equity of 13.99% and a net margin of 20.97%. The firm had revenue of $72.32 million for the quarter. Research analysts anticipate that Summit Financial Group, Inc. will post 4 earnings per share for the current fiscal year.

Summit Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.22 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.50%. Summit Financial Group’s payout ratio is currently 23.04%.

Summit Financial Group 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.