Summit Financial Group, Inc. (NASDAQ:SMMF) Chairman Oscar M. Bean sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the chairman now owns 84,842 shares in the company, valued at $2,205,892. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Summit Financial Group stock traded up $0.21 during midday trading on Thursday, hitting $25.55. The company’s stock had a trading volume of 1,411 shares, compared to its average volume of 25,314. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.93. The business’s 50-day simple moving average is $26.20. Summit Financial Group, Inc. has a 12 month low of $17.94 and a 12 month high of $27.47. The firm has a market capitalization of $329.67 million, a P/E ratio of 11.31, a PEG ratio of 1.47 and a beta of 0.94.
Summit Financial Group (NASDAQ:SMMF) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. Summit Financial Group had a net margin of 24.74% and a return on equity of 13.30%. The firm had revenue of $26.07 million for the quarter, compared to analysts’ expectations of $23.68 million. As a group, equities analysts predict that Summit Financial Group, Inc. will post 2.2 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Summit Financial Group by 2.7% during the 4th quarter. BlackRock Inc. now owns 573,586 shares of the bank’s stock worth $11,075,000 after buying an additional 15,012 shares during the period. Northern Trust Corp grew its holdings in Summit Financial Group by 1.0% during the 4th quarter. Northern Trust Corp now owns 119,190 shares of the bank’s stock worth $2,301,000 after acquiring an additional 1,226 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Summit Financial Group by 19.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 137,168 shares of the bank’s stock worth $2,649,000 after acquiring an additional 22,786 shares in the last quarter. Geode Capital Management LLC grew its holdings in Summit Financial Group by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 86,218 shares of the bank’s stock worth $1,664,000 after acquiring an additional 4,477 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Summit Financial Group by 40.3% during the 4th quarter. Bank of America Corp DE now owns 11,826 shares of the bank’s stock worth $228,000 after acquiring an additional 3,399 shares in the last quarter. Hedge funds and other institutional investors own 26.08% of the company’s stock.
Several equities research analysts have commented on SMMF shares. Zacks Investment Research cut shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. BidaskClub cut shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.
Summit Financial Group Company Profile
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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