8,900 Shares in Summit Financial Group, Inc. (NASDAQ:SMMF) Purchased by Bank of Nova Scotia

Bank of Nova Scotia acquired a new position in Summit Financial Group, Inc. (NASDAQ:SMMFGet Rating) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,900 shares of the bank’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Summit Financial Group by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 275,587 shares of the bank’s stock worth $7,052,000 after purchasing an additional 10,394 shares during the period. Renaissance Technologies LLC grew its position in shares of Summit Financial Group by 2.2% during the 1st quarter. Renaissance Technologies LLC now owns 236,735 shares of the bank’s stock worth $6,058,000 after buying an additional 5,002 shares during the period. State Street Corp grew its position in shares of Summit Financial Group by 2.0% during the 1st quarter. State Street Corp now owns 198,882 shares of the bank’s stock worth $5,089,000 after buying an additional 3,861 shares during the period. EJF Capital LLC acquired a new position in shares of Summit Financial Group during the 1st quarter worth about $1,919,000. Finally, American Century Companies Inc. grew its position in shares of Summit Financial Group by 28.4% during the 1st quarter. American Century Companies Inc. now owns 46,136 shares of the bank’s stock worth $1,181,000 after buying an additional 10,218 shares during the period. 30.51% of the stock is currently owned by institutional investors and hedge funds.

Summit Financial Group Trading Up 0.6 %

NASDAQ:SMMF opened at $28.51 on Monday. Summit Financial Group, Inc. has a fifty-two week low of $24.27 and a fifty-two week high of $30.83. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $364.39 million, a PE ratio of 7.35 and a beta of 0.38. The business’s 50-day simple moving average is $28.04 and its 200-day simple moving average is $28.07.

Summit Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Wednesday, December 14th. Summit Financial Group’s dividend payout ratio (DPR) is presently 20.62%.

Analyst Ratings Changes

Several research firms have recently issued reports on SMMF. DA Davidson restated a “neutral” rating on shares of Summit Financial Group in a research report on Wednesday, July 27th. Piper Sandler boosted their target price on Summit Financial Group to $31.00 in a research report on Tuesday, November 1st. Finally, StockNews.com upgraded Summit Financial Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 11th.

About Summit Financial Group

(Get Rating)

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.

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Institutional Ownership by Quarter for Summit Financial Group (NASDAQ:SMMF)

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