Summit Financial Group (NASDAQ: SMMF) recently received a number of ratings updates from brokerages and research firms:

  • 9/6/2017 – Summit Financial Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $25.00 price target on the stock. According to Zacks, “Summit Financial Group operates thirteen banking locations through its three wholly owned subsidiary banks, Summit Community Bank headquartered in Moorefield, West Virginia, Capital State Bank, Inc. headquartered in Charleston, West Virginia, and Shenandoah Valley National Bank in Winchester, Virginia. Summit also operates Summit Financial, LLC, a residential mortgage loan originator located in Herndon, Virginia. “
  • 8/30/2017 – Summit Financial Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $24.00 price target on the stock. According to Zacks, “Summit Financial Group operates thirteen banking locations through its three wholly owned subsidiary banks, Summit Community Bank headquartered in Moorefield, West Virginia, Capital State Bank, Inc. headquartered in Charleston, West Virginia, and Shenandoah Valley National Bank in Winchester, Virginia. Summit also operates Summit Financial, LLC, a residential mortgage loan originator located in Herndon, Virginia. “
  • 8/29/2017 – Summit Financial Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Summit Financial Group operates thirteen banking locations through its three wholly owned subsidiary banks, Summit Community Bank headquartered in Moorefield, West Virginia, Capital State Bank, Inc. headquartered in Charleston, West Virginia, and Shenandoah Valley National Bank in Winchester, Virginia. Summit also operates Summit Financial, LLC, a residential mortgage loan originator located in Herndon, Virginia. “
  • 8/25/2017 – Summit Financial Group was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/22/2017 – Summit Financial Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $24.00 price target on the stock. According to Zacks, “Summit Financial Group operates thirteen banking locations through its three wholly owned subsidiary banks, Summit Community Bank headquartered in Moorefield, West Virginia, Capital State Bank, Inc. headquartered in Charleston, West Virginia, and Shenandoah Valley National Bank in Winchester, Virginia. Summit also operates Summit Financial, LLC, a residential mortgage loan originator located in Herndon, Virginia. “
  • 8/2/2017 – Summit Financial Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $24.00 price target on the stock. According to Zacks, “Summit Financial Group operates thirteen banking locations through its three wholly owned subsidiary banks, Summit Community Bank headquartered in Moorefield, West Virginia, Capital State Bank, Inc. headquartered in Charleston, West Virginia, and Shenandoah Valley National Bank in Winchester, Virginia. Summit also operates Summit Financial, LLC, a residential mortgage loan originator located in Herndon, Virginia. “
  • 7/31/2017 – Summit Financial Group was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/24/2017 – Summit Financial Group was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.

Summit Financial Group, Inc. (SMMF) opened at 21.84 on Friday. Summit Financial Group, Inc. has a 52 week low of $18.05 and a 52 week high of $30.06. The stock has a market cap of $271.38 million, a price-to-earnings ratio of 19.29 and a beta of 1.02. The firm’s 50 day moving average price is $21.75 and its 200-day moving average price is $21.85.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 14th. Summit Financial Group’s dividend payout ratio (DPR) is presently 39.29%.

In other Summit Financial Group news, Director Charles Piccirillo bought 1,407 shares of Summit Financial Group stock in a transaction on Friday, June 23rd. The shares were purchased at an average cost of $21.69 per share, with a total value of $30,517.83. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary L. Hinkle bought 10,000 shares of Summit Financial Group stock in a transaction on Tuesday, August 1st. The shares were acquired at an average cost of $21.78 per share, for a total transaction of $217,800.00. Following the completion of the acquisition, the director now directly owns 320,978 shares in the company, valued at $6,990,900.84. The disclosure for this purchase can be found here. Insiders have purchased a total of 16,407 shares of company stock worth $358,218 over the last ninety days. 22.82% of the stock is currently owned by insiders.

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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