Summit Financial Group, Inc. (NASDAQ:SMMF) Director Dewey F. Bensenhaver sold 950 shares of Summit Financial Group stock in a transaction on Friday, December 21st. The shares were sold at an average price of $26.14, for a total value of $24,833.00. Following the completion of the transaction, the director now owns 50,310 shares of the company’s stock, valued at $1,315,103.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Summit Financial Group, Inc. (SMMF) traded up $0.03 during trading on Thursday, reaching $26.34. The company had a trading volume of 32,300 shares, compared to its average volume of 27,600. Summit Financial Group, Inc. has a twelve month low of $19.13 and a twelve month high of $28.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $332.41, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96.
Summit Financial Group (NASDAQ:SMMF) last posted its earnings results on Thursday, October 26th. The bank reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Summit Financial Group had a return on equity of 11.72% and a net margin of 15.35%. The business had revenue of $21.23 million during the quarter, compared to analysts’ expectations of $22.29 million. equities research analysts predict that Summit Financial Group, Inc. will post 1.95 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Summit Financial Group by 2.8% during the second quarter. Vanguard Group Inc. now owns 242,585 shares of the bank’s stock worth $5,337,000 after buying an additional 6,609 shares in the last quarter. Bank of New York Mellon Corp grew its position in Summit Financial Group by 33.1% during the second quarter. Bank of New York Mellon Corp now owns 33,162 shares of the bank’s stock worth $730,000 after buying an additional 8,242 shares in the last quarter. State Street Corp grew its position in Summit Financial Group by 25.9% during the second quarter. State Street Corp now owns 145,363 shares of the bank’s stock worth $3,198,000 after buying an additional 29,866 shares in the last quarter. Teachers Advisors LLC grew its position in Summit Financial Group by 43.4% during the second quarter. Teachers Advisors LLC now owns 20,107 shares of the bank’s stock worth $442,000 after buying an additional 6,084 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in Summit Financial Group during the second quarter worth about $255,000. Institutional investors and hedge funds own 22.86% of the company’s stock.
SMMF has been the subject of several recent research reports. Zacks Investment Research upgraded Summit Financial Group from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Wednesday, September 6th. Sandler O’Neill cut Summit Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $25.00 to $26.00 in a research report on Monday, September 25th. Finally, BidaskClub cut Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st.
About Summit Financial Group
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).
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