Summit Financial Group (SMMF) Receiving Somewhat Favorable Press Coverage, Study Shows
News headlines about Summit Financial Group (NASDAQ:SMMF) have been trending somewhat positive on Friday, Accern Sentiment reports. Accern ranks the sentiment of media coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Summit Financial Group earned a media sentiment score of 0.04 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 45.5356081683522 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Several brokerages have issued reports on SMMF. Sandler O’Neill cut shares of Summit Financial Group from a “buy” rating to a “hold” rating and increased their target price for the stock from $25.00 to $26.00 in a report on Monday, September 25th. Zacks Investment Research cut shares of Summit Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, BidaskClub upgraded shares of Summit Financial Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st.
Summit Financial Group (NASDAQ:SMMF) traded up 2.49% during mid-day trading on Friday, hitting $27.54. 43,336 shares of the stock were exchanged. The firm has a market cap of $342.21 million, a P/E ratio of 24.33 and a beta of 1.00. Summit Financial Group has a 12-month low of $18.64 and a 12-month high of $30.06. The company has a 50 day moving average of $23.66 and a 200 day moving average of $22.20.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Stockholders of record on Friday, September 15th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Thursday, September 14th. Summit Financial Group’s dividend payout ratio is presently 39.29%.
In related news, Director Gary L. Hinkle acquired 5,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average cost of $21.98 per share, with a total value of $109,900.00. Following the completion of the transaction, the director now owns 361,276 shares in the company, valued at approximately $7,940,846.48. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Duke A. Mcdaniel sold 3,125 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $24.32, for a total value of $76,000.00. Following the transaction, the director now directly owns 28,109 shares of the company’s stock, valued at $683,610.88. The disclosure for this sale can be found here. Insiders own 22.82% of the company’s stock.
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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