Summit Financial Group, Inc. (SMMF) Director Sells $24,936.56 in Stock
Summit Financial Group, Inc. (NASDAQ:SMMF) Director Dewey F. Bensenhaver sold 946 shares of Summit Financial Group stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $26.36, for a total value of $24,936.56. Following the completion of the sale, the director now directly owns 53,150 shares of the company’s stock, valued at $1,401,034. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Summit Financial Group, Inc. (NASDAQ:SMMF) traded up $1.01 during trading on Friday, hitting $27.18. The company had a trading volume of 79,153 shares, compared to its average volume of 21,275. 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 twelve month low of $19.13 and a twelve month high of $28.16. The firm has a market capitalization of $325.25, a PE ratio of 14.70, a PEG ratio of 1.34 and a beta of 0.96.
Summit Financial Group (NASDAQ:SMMF) last announced its quarterly earnings data on Thursday, October 26th. The bank reported $0.48 EPS 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 business had revenue of $21.23 million during the quarter, compared to analysts’ expectations of $22.29 million. research analysts predict that Summit Financial Group, Inc. will post 1.95 earnings per share for the current fiscal year.
A number of brokerages recently commented on SMMF. Zacks Investment Research raised Summit Financial Group from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, October 31st. Sandler O’Neill cut Summit Financial Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $25.00 to $26.00 in a research note on Monday, September 25th. Finally, BidaskClub cut Summit Financial Group from a “hold” rating to a “sell” rating in a research note on Friday, August 25th.
Several institutional investors have recently made changes to their positions in SMMF. Context BH Capital Management LP acquired a new stake in shares of Summit Financial Group during the second quarter worth $2,494,000. State Street Corp grew its stake in shares of Summit Financial Group by 25.9% during the second quarter. State Street Corp now owns 145,363 shares of the bank’s stock worth $3,198,000 after purchasing an additional 29,866 shares during the period. Northern Trust Corp lifted its holdings in Summit Financial Group by 31.7% during the second quarter. Northern Trust Corp now owns 114,564 shares of the bank’s stock worth $2,520,000 after acquiring an additional 27,551 shares in the last quarter. Maltese Capital Management LLC bought a new position in Summit Financial Group during the third quarter worth about $695,000. Finally, Argent Capital Management LLC bought a new position in Summit Financial Group during the third quarter worth about $660,000. 22.86% of the stock is owned by institutional investors and hedge funds.
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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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