Summit Financial Group, Inc. (SMMF) Given $28.00 Consensus Target Price by Analysts
Summit Financial Group, Inc. (NASDAQ:SMMF) has been assigned an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation.
Analysts have set a 12 month consensus price target of $28.00 for the company and are predicting that the company will post $0.53 earnings per share for the current quarter, according to Zacks. Zacks has also given Summit Financial Group an industry rank of 17 out of 265 based on the ratings given to related companies.
A number of brokerages recently weighed in on SMMF. Zacks Investment Research downgraded shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub downgraded shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, Sandler O’Neill downgraded shares of Summit Financial Group from a “buy” rating to a “hold” rating and increased their price objective for the company from $25.00 to $26.00 in a research report on Monday, September 25th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Summit Financial Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 242,585 shares of the bank’s stock worth $5,337,000 after acquiring an additional 6,609 shares during the period. State Street Corp raised its position in Summit Financial Group by 25.9% in the second quarter. State Street Corp now owns 145,363 shares of the bank’s stock worth $3,198,000 after acquiring an additional 29,866 shares during the period. Northern Trust Corp raised its position in Summit Financial Group by 31.7% in the second quarter. Northern Trust Corp now owns 114,564 shares of the bank’s stock worth $2,520,000 after acquiring an additional 27,551 shares during the period. Context BH Capital Management LP bought a new position in Summit Financial Group in the second quarter worth approximately $2,494,000. Finally, HighTower Advisors LLC raised its position in Summit Financial Group by 0.8% in the second quarter. HighTower Advisors LLC now owns 79,129 shares of the bank’s stock worth $1,741,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 22.86% of the company’s stock.
Shares of Summit Financial Group (SMMF) traded up $0.53 during trading on Monday, reaching $27.17. 12,351 shares of the company were exchanged, compared to its average volume of 19,019. The company has a market capitalization of $331.04, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.35 and a beta of 0.96. Summit Financial Group has a 12 month low of $19.13 and a 12 month high of $28.16. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.
Summit Financial Group (NASDAQ:SMMF) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $21.23 million for the quarter, compared to the consensus estimate of $22.29 million. Summit Financial Group had a net margin of 15.35% and a return on equity of 11.72%. equities research analysts predict that Summit Financial Group will post 1.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.62%. Summit Financial Group’s dividend payout ratio (DPR) is 36.67%.
About Summit Financial Group
Summit Financial Group, Inc (Summit) is a financial holding company. The Company provides community banking services primarily in the Eastern Panhandle and South Central regions of West Virginia and the Shenandoah Valley, and Northern region of Virginia. The Company provides these services through its community bank subsidiary, Summit Community Bank (Summit Community or the Bank).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Summit Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.