Dimensional Fund Advisors LP grew its position in Summit Financial Group, Inc. (NASDAQ:SMMF) by 32.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,578 shares of the bank’s stock after purchasing an additional 8,712 shares during the period. Dimensional Fund Advisors LP’s holdings in Summit Financial Group were worth $913,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in shares of Summit Financial Group by 37.9% in the third quarter. Wells Fargo & Company MN now owns 15,140 shares of the bank’s stock valued at $388,000 after purchasing an additional 4,161 shares during the last quarter. Bank of New York Mellon Corp grew its position in Summit Financial Group by 14.7% during the third quarter. Bank of New York Mellon Corp now owns 38,052 shares of the bank’s stock valued at $976,000 after buying an additional 4,890 shares during the period. Chicago Equity Partners LLC bought a new position in Summit Financial Group during the third quarter valued at about $247,000. California State Teachers Retirement System grew its position in Summit Financial Group by 14.9% during the second quarter. California State Teachers Retirement System now owns 19,266 shares of the bank’s stock valued at $424,000 after buying an additional 2,500 shares during the period. Finally, State Street Corp grew its position in Summit Financial Group by 25.9% during the second quarter. State Street Corp now owns 145,363 shares of the bank’s stock valued at $3,198,000 after buying an additional 29,866 shares during the period. Institutional investors own 22.94% of the company’s stock.

Summit Financial Group, Inc. (NASDAQ:SMMF) opened at $22.85 on Friday. The firm has a market cap of $282.76, a PE ratio of 24.05, a P/E/G ratio of 1.33 and a beta of 0.57. 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, Inc. has a 1 year low of $19.13 and a 1 year high of $28.16.

Summit Financial Group (NASDAQ:SMMF) last posted its quarterly earnings results on Thursday, February 1st. The bank reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.01). The company had revenue of $21.37 million for the quarter, compared to the consensus estimate of $23.20 million. Summit Financial Group had a net margin of 12.04% and a return on equity of 11.88%. equities analysts forecast that Summit Financial Group, Inc. will post 2.15 EPS for the current year.

Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of Summit Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Zacks Investment Research lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th.

In other Summit Financial Group news, Director Duke A. Mcdaniel sold 3,889 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $23.50, for a total transaction of $91,391.50. Following the completion of the transaction, the director now owns 24,220 shares in the company, valued at $569,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Charles Maddy III sold 3,800 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $27.25, for a total transaction of $103,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,806 shares of company stock valued at $709,351. 22.82% of the stock is owned by company insiders.

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Summit Financial Group Profile

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).

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Institutional Ownership by Quarter for Summit Financial Group (NASDAQ:SMMF)

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