Trexquant Investment LP Acquires New Stake in Summit Financial Group, Inc. (NASDAQ:SMMF)

Trexquant Investment LP acquired a new stake in shares of Summit Financial Group, Inc. (NASDAQ:SMMFFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,595 shares of the bank’s stock, valued at approximately $264,000. Trexquant Investment LP owned about 0.06% of Summit Financial Group as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SMMF. First United Bank & Trust acquired a new stake in shares of Summit Financial Group during the fourth quarter valued at $70,000. Hillsdale Investment Management Inc. acquired a new stake in Summit Financial Group in the 4th quarter worth about $187,000. SG Americas Securities LLC boosted its stake in Summit Financial Group by 24.0% in the 4th quarter. SG Americas Securities LLC now owns 6,090 shares of the bank’s stock worth $187,000 after buying an additional 1,180 shares during the last quarter. Burney Co. acquired a new stake in Summit Financial Group in the 3rd quarter worth about $215,000. Finally, Cerity Partners LLC acquired a new stake in Summit Financial Group in the 4th quarter worth about $238,000. Institutional investors and hedge funds own 35.73% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Summit Financial Group in a research note on Wednesday, May 29th. They issued a “buy” rating on the stock.

Read Our Latest Stock Analysis on Summit Financial Group

Summit Financial Group Stock Down 2.5 %

Shares of NASDAQ:SMMF opened at $25.70 on Wednesday. The stock’s 50-day moving average price is $26.00 and its two-hundred day moving average price is $26.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.29. Summit Financial Group, Inc. has a 12-month low of $17.06 and a 12-month high of $31.49. The firm has a market cap of $377.28 million, a price-to-earnings ratio of 6.62 and a beta of 0.39.

Summit Financial Group (NASDAQ:SMMFGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The bank reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The company had revenue of $45.00 million for the quarter. Summit Financial Group had a return on equity of 14.25% and a net margin of 20.84%. On average, research analysts forecast that Summit Financial Group, Inc. will post 4 EPS for the current year.

About Summit Financial Group

(Free Report)

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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