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NEW YORK (TheStreet) -- Summit Financial Group (SMMF) has been upgraded by TheStreet Ratings from Hold to Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
TheStreet Ratings team rates SUMMIT FINANCIAL GROUP INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUMMIT FINANCIAL GROUP INC (SMMF) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
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Highlights from the analysis by TheStreet Ratings Team goes as follows:
- SMMF's revenue growth has slightly outpaced the industry average of 0.1%. Since the same quarter one year prior, revenues slightly increased by 8.2%. Growth in the company's revenue appears to have helped boost the earnings per share.
- Powered by its strong earnings growth of 45.83% and other important driving factors, this stock has surged by 32.30% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, SMMF should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- SUMMIT FINANCIAL GROUP INC has improved earnings per share by 45.8% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. During the past fiscal year, SUMMIT FINANCIAL GROUP INC increased its bottom line by earning $0.85 versus $0.58 in the prior year.
- The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Commercial Banks industry average. The net income increased by 46.8% when compared to the same quarter one year prior, rising from $2.27 million to $3.34 million.
- You can view the full analysis from the report here: SMMF Ratings Report