Summit Financial Group (SMMF) Receiving Somewhat Positive News Coverage, Report Finds

News stories about Summit Financial Group (NASDAQ:SMMF) have been trending somewhat positive on Tuesday, Accern Sentiment Analysis reports. Accern identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Summit Financial Group earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned news coverage about the bank an impact score of 45.9914611726248 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.

Shares of Summit Financial Group (SMMF) traded up 1.29% on Tuesday, hitting $22.84. The stock had a trading volume of 7,103 shares. The stock has a market cap of $283.81 million, a PE ratio of 20.18 and a beta of 1.02. The stock has a 50 day moving average of $21.82 and a 200-day moving average of $21.81. Summit Financial Group has a 12 month low of $18.05 and a 12 month high of $30.06.

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Friday, September 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.93%. Summit Financial Group’s dividend payout ratio (DPR) is currently 39.29%.

A number of research analysts have recently commented on SMMF shares. BidaskClub cut Summit Financial Group from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Zacks Investment Research cut Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Friday.

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In other news, Director Thomas J. Hawse III sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $22.00, for a total value of $66,000.00. Following the transaction, the director now directly owns 95,132 shares in the company, valued at approximately $2,092,904. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gary L. Hinkle purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average price of $21.98 per share, for a total transaction of $109,900.00. Following the completion of the purchase, the director now owns 361,276 shares in the company, valued at $7,940,846.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 16,407 shares of company stock worth $358,218. Company insiders own 22.82% of the company’s stock.

Summit Financial Group Company Profile

Summit Financial Group, Inc (Summit) is a financial holding company. The Company 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 Company provides these services through its community bank subsidiary, Summit Community Bank (Summit Community or the Bank).

Insider Buying and Selling by Quarter for Summit Financial Group (NASDAQ:SMMF)

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