NTV Asset Management LLC Buys Shares of 8,325 Summit Financial Group, Inc. (NASDAQ:SMMF)

NTV Asset Management LLC purchased a new position in shares of Summit Financial Group, Inc. (NASDAQ:SMMF) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 8,325 shares of the bank’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SMMF. Raymond James Financial Services Advisors Inc. bought a new position in Summit Financial Group during the fourth quarter worth $870,000. Cerity Partners LLC acquired a new stake in Summit Financial Group during the fourth quarter worth approximately $238,000. SG Americas Securities LLC increased its holdings in Summit Financial Group by 24.0% in the fourth quarter. SG Americas Securities LLC now owns 6,090 shares of the bank’s stock worth $187,000 after purchasing an additional 1,180 shares in the last quarter. EJF Capital LLC acquired a new position in Summit Financial Group in the third quarter valued at approximately $2,804,000. Finally, Axxcess Wealth Management LLC lifted its stake in shares of 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 buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 35.73% of the company’s stock.

Summit Financial Group Stock Performance

Shares of SMMF stock remained flat at $25.70 during trading hours on Friday. The stock has a market capitalization of $377.28 million, a P/E ratio of 6.62 and a beta of 0.39. 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, Inc. has a 52 week low of $17.06 and a 52 week high of $31.49. The stock’s 50-day moving average is $26.22 and its 200 day moving average is $26.22.

Summit Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, March 14th. Summit Financial Group’s dividend payout ratio (DPR) is presently 22.68%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Summit Financial Group from a “hold” rating to a “buy” rating in a research report on Thursday.

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.