Summit Financial Group, Inc. (NASDAQ:SMMF) Director Dewey F. Bensenhaver sold 2,246 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $26.85, for a total value of $60,305.10. Following the completion of the transaction, the director now owns 54,096 shares in the company, valued at approximately $1,452,477.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Summit Financial Group, Inc. (NASDAQ:SMMF) traded up $0.05 during trading hours on Thursday, hitting $27.14. The company’s stock had a trading volume of 15,100 shares, compared to its average volume of 22,096. Summit Financial Group, Inc. has a 12 month low of $19.13 and a 12 month high of $30.06. The firm has a market capitalization of $336.68, a PE ratio of 15.22, a P/E/G ratio of 1.39 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33.

Summit Financial Group (NASDAQ:SMMF) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $21.23 million during the quarter, compared to analysts’ expectations of $22.29 million. equities analysts forecast that Summit Financial Group, Inc. will post 1.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.11 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.62%. Summit Financial Group’s dividend payout ratio is currently 36.67%.

Several large investors have recently made changes to their positions in the business. Summit Financial Group Inc. acquired a new position in shares of Summit Financial Group during the 2nd quarter worth about $5,402,000. Schwab Charles Investment Management Inc. lifted its position in shares of Summit Financial Group by 69.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 21,700 shares of the bank’s stock worth $478,000 after purchasing an additional 8,900 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Summit Financial Group during the 2nd quarter worth about $255,000. Bank of New York Mellon Corp lifted its position in shares of Summit Financial Group by 33.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 33,162 shares of the bank’s stock worth $730,000 after purchasing an additional 8,242 shares during the last quarter. Finally, Darrell & King LLC acquired a new position in shares of Summit Financial Group during the 2nd quarter worth about $263,000. 22.86% of the stock is owned by institutional investors.

SMMF has been the topic of a number of recent research reports. Zacks Investment Research downgraded Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub cut Summit Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Sandler O’Neill cut Summit Financial Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $25.00 to $26.00 in a research report on Monday, September 25th.

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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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