Cerity Partners LLC Purchases New Holdings in Summit Financial Group, Inc. (NASDAQ:SMMF)

Cerity Partners LLC acquired a new stake in Summit Financial Group, Inc. (NASDAQ:SMMF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,750 shares of the bank’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SMMF. SG Americas Securities LLC bought a new position in Summit Financial Group in the third quarter valued at approximately $111,000. Emerald Mutual Fund Advisers Trust bought a new position in Summit Financial Group in the third quarter valued at approximately $585,000. Burney Co. bought a new position in Summit Financial Group in the third quarter valued at approximately $215,000. Axxcess Wealth Management LLC boosted its stake in Summit Financial Group by 0.9% in the third quarter. Axxcess Wealth Management LLC now owns 50,895 shares of the bank’s stock valued at $1,147,000 after acquiring an additional 450 shares during the last quarter. Finally, EJF Capital LLC bought a new position in Summit Financial Group in the third quarter valued at approximately $2,804,000. 35.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Summit Financial Group in a research note on Tuesday, April 23rd. They issued a “hold” rating on the stock.

Summit Financial Group Trading Up 0.1 %

Shares of NASDAQ SMMF opened at $27.45 on Monday. The company’s fifty day moving average is $26.28 and its 200-day moving average is $26.09. The stock has a market cap of $403.08 million, a price-to-earnings ratio of 7.07 and a beta of 0.38. Summit Financial Group, Inc. has a twelve month low of $17.06 and a twelve month high of $31.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.29.

Summit Financial Group (NASDAQ:SMMF) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. The company had revenue of $72.32 million for the quarter. Summit Financial Group had a net margin of 20.84% and a return on equity of 14.25%. Equities research analysts predict that Summit Financial Group, Inc. will post 4 EPS for the current year.

Summit Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.21%. Summit Financial Group’s dividend 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.