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 stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $27.28, for a total transaction of $51,832.00. Following the completion of the transaction, the chief executive officer now owns 77,856 shares in the company, valued at $2,123,911.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
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.
Shares of Summit Financial Group, Inc. (NASDAQ:SMMF) traded up $0.10 during trading hours on Thursday, reaching $26.21. 10,200 shares of the company’s stock traded hands, compared to its average volume of 22,192. Summit Financial Group, Inc. has a 1 year low of $19.13 and a 1 year high of $28.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $324.50, a P/E ratio of 14.67, a PEG ratio of 1.34 and a beta of 0.96.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, December 14th. Summit Financial Group’s payout ratio is presently 36.67%.
A number of large investors have recently modified their holdings of SMMF. Schwab Charles Investment Management Inc. increased its stake in Summit Financial Group by 69.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 21,700 shares of the bank’s stock valued at $478,000 after purchasing an additional 8,900 shares in the last quarter. Rhumbline Advisers bought a new stake in Summit Financial Group in the second quarter valued at approximately $255,000. Bank of New York Mellon Corp increased its stake in Summit Financial Group by 33.1% in the second quarter. Bank of New York Mellon Corp now owns 33,162 shares of the bank’s stock valued at $730,000 after purchasing an additional 8,242 shares in the last quarter. LSV Asset Management increased its stake in Summit Financial Group by 118.3% in the second quarter. LSV Asset Management now owns 18,900 shares of the bank’s stock valued at $415,000 after purchasing an additional 10,244 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Summit Financial Group by 43.4% in the second quarter. Teachers Advisors LLC now owns 20,107 shares of the bank’s stock valued at $442,000 after purchasing an additional 6,084 shares in the last quarter. 22.86% of the stock is owned by hedge funds and other institutional investors.
SMMF has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Summit Financial Group from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Wednesday, September 6th. Sandler O’Neill lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating and increased their price objective for the company from $25.00 to $26.00 in a report on Monday, September 25th. Finally, BidaskClub lowered shares of Summit Financial Group from a “hold” rating to a “sell” rating in a report on Friday, August 25th.
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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).
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