Summit Financial Group, Inc. (SMMF) CEO Sells $103,550.00 in Stock
Summit Financial Group, Inc. (NASDAQ:SMMF) CEO H Charles Maddy III sold 3,800 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $27.25, for a total transaction of $103,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Summit Financial Group, Inc. (NASDAQ:SMMF) traded down $0.55 on Thursday, hitting $26.87. 27,541 shares of the stock traded hands, compared to its average volume of 22,059. 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, Inc. has a fifty-two week low of $19.13 and a fifty-two week high of $30.06. The company has a market cap of $338.67, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.40 and a beta of 1.00.
Summit Financial Group (NASDAQ:SMMF) last posted its earnings results on Thursday, October 26th. The bank reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Summit Financial Group had a net margin of 15.35% and a return on equity of 11.72%. The business had revenue of $21.23 million for the quarter, compared to analyst estimates of $22.29 million. sell-side analysts predict that Summit Financial Group, Inc. will post 1.95 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors grew its holdings in Summit Financial Group by 28.5% during the 2nd quarter. Nationwide Fund Advisors now owns 5,987 shares of the bank’s stock worth $132,000 after acquiring an additional 1,328 shares during the last quarter. Stifel Financial Corp bought a new stake in Summit Financial Group during the 2nd quarter worth about $207,000. Chicago Equity Partners LLC bought a new stake in Summit Financial Group during the 3rd quarter worth about $247,000. Rhumbline Advisers bought a new stake in Summit Financial Group during the 2nd quarter worth about $255,000. Finally, Darrell & King LLC bought a new stake in Summit Financial Group during the 2nd quarter worth about $263,000. 22.86% of the stock is currently owned by institutional investors and hedge funds.
SMMF has been the topic of several analyst reports. Zacks Investment Research lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating in a report on Friday, September 8th. BidaskClub lowered shares of Summit Financial Group from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Sandler O’Neill lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $25.00 to $26.00 in a report on Monday, September 25th.
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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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