Streetbeat News

SMMF

Summit Financial Group Inc

Employees

23

summit financial group, inc. is a financial holding company which provides community banking and insurance services . summit’s community banking operations consist of 15 banking offices located in the eastern panhandle and south central regions of west virginia and in the shenandoah valley and northern regions of virginia. summit financial group inc.’s affiliate entities are: summit community bank, a state chartered community bank , and summit insurance services, llc, a full lines insurance agency.

Open

26.40

Mkt cap

377M

Volume

271K

High

26.42

P/E Ratio

6.64

52-wk high

31.49

Low

25.36

Div yield

0.02

52-wk low

17.06

Summit Financial Group (SMMF) reported Q1 2024 earnings of $1.14 per share, surpassing the $1.07 estimate, and sales of $45.001M, exceeding the $44.674M forecast. This represents a 3.64% increase in earnings and a 16.66% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 11:45 am

Burke & Herbert Financial Services Corp. (BHRB) and Summit Financial Group, Inc. (SMMF) have received all necessary regulatory approvals for their merger, set to close on May 3, 2024. The merger, announced on August 24, 2023, is a merger of equals. Additionally, Burke & Herbert has scheduled its annual shareholder meeting for July 15, 2024, for shareholders of record as of May 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:34 pm

Banking and financial services stocks, including ACRE, APAM, BANC, and others, are trading lower due to a greater-than-expected increase in January inflation data.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:34 pm

Summit Financial Group (SMMF) reported Q4 earnings with an EPS of $1.11, slightly beating the estimate of $1.1. Revenue increased by $7.38 million compared to the same period last year. Despite beating EPS estimates last quarter, SMMF's share price fell by 4.98% the following day. Historical earnings performance shows mixed results over the past four quarters.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 3:10 pm

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.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 11:25 am

Burke & Herbert Financial Services Corp. (BHRB) and Summit Financial Group, Inc. (SMMF) have received shareholder approval for their merger, with Burke & Herbert as the surviving entity. The merger, which was agreed upon on August 24, 2023, is still subject to regulatory approvals and customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:08 pm

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) and Summit Financial Group, Inc. (NASDAQ:SMMF) have submitted regulatory filings related to their merger agreement. The merger, announced on August 24, 2023, is expected to close in Q1 2024, subject to regulatory and shareholder approvals.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 4:02 pm

DA Davidson has maintained its Neutral rating for Summit Financial Group (NASDAQ:SMMF) and raised its price target from $25.00 to $27.00. Shares of SMMF are currently trading down 1.08% at $24.62 per share. A move to $27.00 would represent a 9.67% increase from the current share price.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 5:01 pm

DA Davidson analyst Manuel Navas maintains a Neutral rating on Summit Financial Group (NASDAQ:SMMF) and raises the price target from $25 to $27.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 2:18 pm

Summit Financial Group, Inc. (NASDAQ:SMMF) has announced a 10% increase in its quarterly common dividend from $0.20 to $0.22 per share. The dividend will be payable on September 29, 2023, to common shareholders of record as of the close of business on September 15, 2023.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 8:01 pm

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