Stock of the Day: Institutional Investors Are Betting On Summit Financial Group Inc (NASDAQ:SMMF)

November 18, 2016 - By kentuckypostne   ·   0 Comments

Stock of the Day: Institutional Investors Are Betting On Summit Financial Group Inc (NASDAQ:SMMF)

Sentiment for Summit Financial Group Inc (NASDAQ:SMMF)

Summit Financial Group Inc (NASDAQ:SMMF) institutional sentiment increased to 3.5 in 2016 Q2. Its up 1.42, from 2.08 in 2016Q1. The ratio has improved, as 27 funds started new or increased positions, while 13 sold and trimmed stock positions in Summit Financial Group Inc. The funds in our partner’s database now hold: 1.57 million shares, down from 2.03 million shares in 2016Q1. Also, the number of funds holding Summit Financial Group Inc in their top 10 positions was flat from 0 to 0 for the same number . Sold All: 9 Reduced: 4 Increased: 12 New Position: 15.

Summit Financial Group, Inc. is a financial holding company. The company has a market cap of $255.10 million. The Firm 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. It has a 15.65 P/E ratio. The Firm provides these services through its community bank subsidiary, Summit Community Bank (Summit Community or the Bank).

The stock increased 1.67% or $0.4 on November 17, hitting $24.31. Summit Financial Group, Inc. (NASDAQ:SMMF) has risen 35.51% since April 18, 2016 and is uptrending. It has outperformed by 31.08% the S&P500.

According to Zacks Investment Research, “Summit Financial Group operates thirteen banking locations through its three wholly owned subsidiary banks, Summit Community Bank headquartered in Moorefield, West Virginia, Capital State Bank, Inc. headquartered in Charleston, West Virginia, and Shenandoah Valley National Bank in Winchester, Virginia. Summit also operates Summit Financial, LLC, a residential mortgage loan originator located in Herndon, Virginia.”

Gendell Jeffrey L holds 0.93% of its portfolio in Summit Financial Group, Inc. for 260,006 shares. United Bank Inc. owns 66,930 shares or 0.54% of their US portfolio. Moreover, Philadelphia Trust Co has 0.09% invested in the company for 61,996 shares. The Maryland-based Maryland Capital Management has invested 0.07% in the stock. Burney Co, a Virginia-based fund reported 13,200 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 4 buys, and 3 sales for $26,859 net activity.

SMMF Company Profile

Summit Financial Group, Inc. (Summit), incorporated on March 5, 1987, is a financial holding company. The Firm 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 Firm provides these services through its community bank subsidiary, Summit Community Bank (Summit Community or the Bank). The Firm operates through two divisions: community banking, and insurance & financial services. The community banking segment consists of its full service banks, which offer clients traditional banking services and products through various delivery channels. The insurance & financial services segment includes three insurance agency offices that sell insurance products. The Firm also operates Summit Insurance Services, LLC in Moorefield, West Virginia and Leesburg, Virginia, which provides insurance brokerage services to individuals and businesses covering corporate and personal property and casualty insurance products, as well as group health and life insurance products and consulting services.

More recent Summit Financial Group, Inc. (NASDAQ:SMMF) news were published by: Globenewswire.com which released: “Summit Financial Group, Inc. to Acquire First Century Bankshares, Inc. and Its …” on June 01, 2016. Also Globenewswire.com published the news titled: “Summit Financial Group, Inc. Completes Its Acquisition of Highland County …” on October 03, 2016. Globenewswire.com‘s news article titled: “Summit Financial Group, Inc. to Acquire Highland County Bankshares, Inc. and …” with publication date: March 01, 2016 was also an interesting one.

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