Summit Finl Gr Q4 EPS $1.11 Beats $1.10 Estimate, Net Interest Income Totals 40.79M Compared With $34.35M YoY
Portfolio Pulse from Benzinga Newsdesk
Summit Financial Group (SMMF) reported Q4 earnings of $1.11 per share, slightly beating the consensus estimate of $1.10. However, this represents a 4.31% decrease from the $1.16 per share reported in the same quarter last year. Net interest income for the quarter was $40.79 million, up from $34.35 million year-over-year.
January 25, 2024 | 11:25 am
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NEUTRAL IMPACT
Summit Financial Group reported a slight earnings beat but a decrease in earnings per share year-over-year. Net interest income showed growth compared to last year.
While SMMF beat the earnings estimate, the decrease in earnings per share compared to the previous year may temper investor enthusiasm. However, the increase in net interest income is a positive sign and could offset concerns about the earnings per share decrease. The mixed results lead to a neutral short-term impact score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100