Summit Financial Group, Inc. (SMMF) Declares Quarterly Dividend of $0.14

Summit Financial Group, Inc. (NASDAQ:SMMF) announced a quarterly dividend on Monday, December 3rd, Wall Street Journal reports. Investors of record on Friday, December 14th will be paid a dividend of 0.14 per share by the bank on Monday, December 31st. This represents a $0.56 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, December 13th. This is a boost from Summit Financial Group’s previous quarterly dividend of $0.13.

Summit Financial Group has a payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Summit Financial Group to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 28.4%.

Shares of SMMF opened at $20.32 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. Summit Financial Group has a twelve month low of $20.00 and a twelve month high of $28.00. The company has a market cap of $253.85 million, a P/E ratio of 10.75, a PEG ratio of 1.17 and a beta of 0.72.

Summit Financial Group (NASDAQ:SMMF) last posted its earnings results on Thursday, October 25th. The bank reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Summit Financial Group had a net margin of 20.89% and a return on equity of 12.73%. The business had revenue of $21.42 million during the quarter, compared to the consensus estimate of $22.48 million. On average, sell-side analysts anticipate that Summit Financial Group will post 2.18 EPS for the current fiscal year.

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Summit Financial Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 30th. BidaskClub raised shares of Summit Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. Finally, ValuEngine downgraded shares of Summit Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, September 24th.

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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 and South Central regions of West Virginia and the Shenandoah Valley, and Southwestern regions of Virginia.

See Also: Return on Investment (ROI)

Dividend History for Summit Financial Group (NASDAQ:SMMF)

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