Summit Financial Group, Inc. (NASDAQ:SMMF) announced a quarterly dividend on Tuesday, August 28th, NASDAQ reports. Shareholders of record on Friday, September 14th will be paid a dividend of 0.13 per share by the bank on Friday, September 28th. This represents a $0.52 annualized dividend and a yield of 2.13%. The ex-dividend date is Thursday, September 13th.

Summit Financial Group has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Summit Financial Group to earn $2.11 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 24.6%.

Shares of NASDAQ SMMF opened at $24.44 on Friday. Summit Financial Group has a 1-year low of $21.78 and a 1-year high of $28.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $303.03 million, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.38 and a beta of 0.60.

Summit Financial Group (NASDAQ:SMMF) last issued its earnings results on Thursday, July 26th. The bank reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). Summit Financial Group had a return on equity of 12.48% and a net margin of 20.37%. The company had revenue of $21.42 million during the quarter, compared to analyst estimates of $22.37 million. sell-side analysts anticipate that Summit Financial Group will post 2.2 EPS for the current fiscal year.

Several equities research analysts have weighed in on SMMF shares. Zacks Investment Research lowered Summit Financial Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 1st. BidaskClub raised Summit Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 5th.

About Summit Financial Group

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 and South Central regions of West Virginia and the Shenandoah Valley, and Southwestern regions of Virginia.

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Dividend History for Summit Financial Group (NASDAQ:SMMF)

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