Summit Financial Group, Inc. (SMMF) Director Gary L. Hinkle Purchases 2,130 Shares
Summit Financial Group, Inc. (NASDAQ:SMMF) Director Gary L. Hinkle purchased 2,130 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were purchased at an average cost of $26.94 per share, for a total transaction of $57,382.20. Following the purchase, the director now directly owns 94,132 shares in the company, valued at $2,535,916.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Summit Financial Group (NASDAQ:SMMF) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $21.23 million during the quarter, compared to analysts’ expectations of $22.29 million. Summit Financial Group had a net margin of 15.35% and a return on equity of 12.27%.
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Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub raised Summit Financial Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Sandler O’Neill lowered Summit Financial Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $25.00 to $26.00 in a research note on Monday, September 25th.
Several institutional investors have recently bought and sold shares of the company. Summit Financial Group Inc. bought a new position in shares of Summit Financial Group in the second quarter valued at approximately $5,402,000. Vanguard Group Inc. boosted its holdings in shares of Summit Financial Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 242,585 shares of the bank’s stock valued at $5,337,000 after acquiring an additional 6,609 shares in the last quarter. State Street Corp boosted its holdings in shares of Summit Financial Group by 25.9% in the second quarter. State Street Corp now owns 145,363 shares of the bank’s stock valued at $3,198,000 after acquiring an additional 29,866 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Summit Financial Group by 31.7% in the second quarter. Northern Trust Corp now owns 114,564 shares of the bank’s stock valued at $2,520,000 after acquiring an additional 27,551 shares in the last quarter. Finally, Context BH Capital Management LP bought a new position in shares of Summit Financial Group in the second quarter valued at approximately $2,494,000. Institutional investors and hedge funds own 20.70% 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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