Analysts at Sandler O’Neill assumed coverage on shares of Summit Financial Group Inc. (NASDAQ:SMMF) in a report released on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.

Summit Financial Group (NASDAQ:SMMF) opened at 19.37 on Wednesday. Summit Financial Group has a 1-year low of $11.03 and a 1-year high of $20.77. The firm’s 50-day moving average price is $19.57 and its 200-day moving average price is $18.53. The firm has a market cap of $207.10 million, a price-to-earnings ratio of 12.94 and a beta of 0.87.

Summit Financial Group (NASDAQ:SMMF) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.37 earnings per share (EPS) for the quarter. Summit Financial Group had a return on equity of 10.88% and a net margin of 22.49%. On average, equities research analysts anticipate that Summit Financial Group will post ($0.63) earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 2.07%. Summit Financial Group’s dividend payout ratio is presently 26.49%.

In other Summit Financial Group news, Chairman Oscar M. Bean sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $20.13, for a total value of $100,650.00. Following the completion of the sale, the chairman now directly owns 93,976 shares in the company, valued at $1,891,736.88. 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 3,500 shares of the business’s stock in a transaction on Friday, August 19th. The stock was purchased at an average price of $19.49 per share, with a total value of $68,215.00. Following the completion of the transaction, the director now directly owns 334,454 shares of the company’s stock, valued at $6,518,508.46. The disclosure for this purchase 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).

5 Day Chart for NASDAQ:SMMF

The Fly

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