Summit Financial Group - SMMF Stock Forecast, Price & News

1 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Summit Financial Group in the last twelve months. There are currently 1 hold rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" SMMF shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SMMF, but not buy additional shares or sell existing shares.
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1 analysts have issued twelve-month price targets for Summit Financial Group's shares. Their SMMF share price forecasts range from $31.00 to $31.00. On average, they anticipate the company's share price to reach $31.00 in the next twelve months. This suggests a possible upside of 39.5% from the stock's current price.
View analysts price targets for SMMF or view top-rated stocks among Wall Street analysts.

Summit Financial Group's stock was trading at $24.89 at the beginning of 2023. Since then, SMMF shares have decreased by 10.7% and is now trading at $22.22.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, April 27th 2023.
View our SMMF earnings forecast.

Summit Financial Group, Inc. (NASDAQ:SMMF) posted its quarterly earnings data on Thursday, January, 26th. The bank reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by $0.03. The bank had revenue of $39.22 million for the quarter, compared to analysts' expectations of $39.50 million. Summit Financial Group had a trailing twelve-month return on equity of 16.36% and a net margin of 30.08%.

Summit Financial Group announced a quarterly dividend on Friday, February 24th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.20 per share on Friday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, March 14th.
Read our dividend analysis for SMMF.

Summit Financial Group (NASDAQ:SMMF) pays an annual dividend of $0.80 per share and currently has a dividend yield of 3.64%. The company has been increasing its dividend for 8 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 19.56%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, SMMF will have a dividend payout ratio of 18.87% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for SMMF.

2 employees have rated Summit Financial Group Chief Executive Officer H. Charles Maddy III on Glassdoor.com. H. Charles Maddy III has an approval rating of 100% among the company's employees. This puts H. Charles Maddy III in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Summit Financial Group investors own include Verizon Communications (VZ), Xilinx (XLNX), Carnival Co. & (CCL), GDS (GDS), onsemi (ON), Netflix (NFLX), QUALCOMM (QCOM), Royal Gold (RGLD), Sibanye Gold (SBGL).

Summit Financial Group trades on the NASDAQ under the ticker symbol "SMMF."

Summit Financial Group's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Dimensional Fund Advisors LP (2.56%), Summit Financial Group Inc. (1.88%), Renaissance Technologies LLC (1.69%), Geode Capital Management LLC (1.52%), American Century Companies Inc. (0.48%) and Millennium Management LLC (0.38%). Insiders that own company stock include Charles Piccirillo, Dewey F Bensenhaver, Gary L Hinkle, James M Cookman, Jason A Kitzmiller, Jill S Upson, Kyle E Almond, Oscar M Bean, Ronald B Spencer and Scott C Jennings.
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Shares of SMMF stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of SMMF stock can currently be purchased for approximately $22.22.

Summit Financial Group (NASDAQ:SMMF) has a market capitalization of $283.97 million and generates $176.90 million in revenue each year. The bank earns $53.22 million in net income (profit) each year or $4.09 on an earnings per share basis.

The company employs 439 workers across the globe.

Summit Financial Group's mailing address is 300 NORTH MAIN ST, MOOREFIELD WV, 26836. The official website for the company is www.summitfgi.com. The bank can be reached via phone at (304) 530-1000, via email at tely@summitfgi.com, or via fax at 304-538-7053.