Summit Financial Group, Inc. (SMMF) Plans $0.11 Quarterly Dividend
Summit Financial Group, Inc. (NASDAQ:SMMF) declared a quarterly dividend on Monday, November 27th, Wall Street Journal reports. Stockholders of record on Friday, December 15th will be given a dividend of 0.11 per share by the bank on Friday, December 29th. This represents a $0.44 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, December 14th.
Summit Financial Group (NASDAQ SMMF) opened at $26.51 on Monday. The company has a market capitalization of $329.47, a P/E ratio of 14.89, a PEG ratio of 1.36 and a beta of 1.00. Summit Financial Group has a fifty-two week low of $19.13 and a fifty-two week high of $30.06. 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 (NASDAQ:SMMF) last posted its earnings results on Thursday, October 26th. The bank reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $22.29 million. sell-side analysts predict that Summit Financial Group will post 1.95 EPS for the current fiscal year.
In other Summit Financial Group news, CFO Robert S. Tissue sold 3,880 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $27.50, for a total value of $106,700.00. Following the completion of the sale, the chief financial officer now directly owns 69,920 shares in the company, valued at $1,922,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary L. Hinkle bought 3,001 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was purchased at an average price of $25.10 per share, with a total value of $75,325.10. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 7,461 shares of company stock valued at $194,499 and sold 12,005 shares valued at $318,030. Corporate insiders own 22.82% of the company’s stock.
SMMF has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Summit Financial Group from a “buy” rating to a “hold” rating in a report on Friday, September 8th. BidaskClub lowered Summit Financial Group from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Sandler O’Neill lowered Summit Financial Group from a “buy” rating to a “hold” rating and increased their price objective for the stock from $25.00 to $26.00 in a report on Monday, September 25th.
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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