H Charles Maddy III Sells 1,900 Shares of Summit Financial Group, Inc. (SMMF) Stock

Summit Financial Group, Inc. (NASDAQ:SMMF) CEO H Charles Maddy III sold 1,900 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $27.28, for a total transaction of $51,832.00. Following the transaction, the chief executive officer now directly owns 77,856 shares in the company, valued at $2,123,911.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

H Charles Maddy III also recently made the following trade(s):

  • On Wednesday, November 29th, H Charles Maddy III sold 3,800 shares of Summit Financial Group stock. The shares were sold at an average price of $27.25, for a total transaction of $103,550.00.

Summit Financial Group, Inc. (NASDAQ SMMF) opened at $26.64 on Thursday. The company has a market cap of $331.04, a PE ratio of 22.20, a PEG ratio of 1.35 and a beta of 0.96. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. Summit Financial Group, Inc. has a 12-month low of $19.13 and a 12-month high of $28.16.

Summit Financial Group (NASDAQ:SMMF) last released its quarterly earnings results on Thursday, October 26th. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $21.23 million during the quarter, compared to analyst estimates of $22.29 million. Summit Financial Group had a net margin of 15.35% and a return on equity of 11.72%. research analysts expect that Summit Financial Group, Inc. will post 1.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.11 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.65%. Summit Financial Group’s dividend payout ratio is presently 36.67%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors lifted its holdings in Summit Financial Group by 28.5% in the 2nd quarter. Nationwide Fund Advisors now owns 5,987 shares of the bank’s stock valued at $132,000 after acquiring an additional 1,328 shares during the last quarter. Stifel Financial Corp acquired a new stake in Summit Financial Group in the 2nd quarter valued at about $207,000. Chicago Equity Partners LLC acquired a new stake in Summit Financial Group in the 3rd quarter valued at about $247,000. Rhumbline Advisers acquired a new stake in Summit Financial Group in the 2nd quarter valued at about $255,000. Finally, OxFORD Asset Management LLP acquired a new stake in Summit Financial Group in the 2nd quarter valued at about $285,000. Hedge funds and other institutional investors own 22.86% of the company’s stock.

SMMF has been the subject of several recent research reports. Zacks Investment Research lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Sandler O’Neill lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating and boosted their target price for the company from $25.00 to $26.00 in a research note on Monday, September 25th. Finally, BidaskClub lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st.

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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).

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

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