NTV Asset Management LLC Acquires New Position in Summit Financial Group, Inc. (NASDAQ:SMMF)

NTV Asset Management LLC bought a new position in shares of Summit Financial Group, Inc. (NASDAQ:SMMF) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,325 shares of the bank’s stock, valued at approximately $255,000. NTV Asset Management LLC owned 0.06% of Summit Financial Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SMMF. SG Americas Securities LLC acquired a new stake in shares of Summit Financial Group in the 3rd quarter valued at about $111,000. Cerity Partners LLC bought a new stake in Summit Financial Group in the 4th quarter valued at approximately $238,000. Burney Co. acquired a new position in Summit Financial Group during the 3rd quarter worth approximately $215,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Summit Financial Group during the 3rd quarter worth approximately $585,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Summit Financial Group in the fourth quarter valued at approximately $870,000. Institutional investors own 35.73% of the company’s stock.

Summit Financial Group Stock Performance

Shares of NASDAQ:SMMF remained flat at $25.70 on Friday. The company has a market capitalization of $377.28 million, a P/E ratio of 6.62 and a beta of 0.39. The business’s fifty day simple moving average is $26.22 and its 200 day simple moving average is $26.22. Summit Financial Group, Inc. has a twelve month low of $17.06 and a twelve month high of $31.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.92.

Summit Financial Group Announces Dividend

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

Analysts Set New Price Targets

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 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.