Somewhat Favorable News Coverage Somewhat Unlikely to Affect Summit Financial Group (SMMF) Stock Price
News articles about Summit Financial Group (NASDAQ:SMMF) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Summit Financial Group earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave headlines about the bank an impact score of 45.4724570683998 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
SMMF has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Summit Financial Group from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Wednesday, August 2nd. BidaskClub raised shares of Summit Financial Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st.
Summit Financial Group (NASDAQ SMMF) traded up 2.06% during trading on Friday, hitting $21.85. 45,669 shares of the company were exchanged. The company has a market capitalization of $271.51 million, a price-to-earnings ratio of 19.30 and a beta of 1.02. Summit Financial Group has a 12 month low of $17.38 and a 12 month high of $30.06. The stock’s 50-day moving average is $21.72 and its 200-day moving average is $22.21.
In other Summit Financial Group news, Director Charles Piccirillo acquired 1,407 shares of the stock in a transaction dated Friday, June 23rd. The stock was acquired at an average price of $21.69 per share, with a total value of $30,517.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary L. Hinkle acquired 10,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average cost of $21.78 per share, with a total value of $217,800.00. Following the purchase, the director now owns 320,978 shares of the company’s stock, valued at approximately $6,990,900.84. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 16,407 shares of company stock valued at $358,218. Company insiders own 22.82% of the company’s stock.
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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).
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