Summit Financial Group, Inc. (NASDAQ:SMMF) COO Scott C. Jennings sold 3,880 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $27.00, for a total transaction of $104,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Scott C. Jennings also recently made the following trade(s):

  • On Friday, December 1st, Scott C. Jennings sold 1,646 shares of Summit Financial Group stock. The shares were sold at an average price of $27.00, for a total transaction of $44,442.00.

Summit Financial Group, Inc. (SMMF) traded up $0.45 during trading on Tuesday, hitting $27.22. 43,600 shares of the stock traded hands, compared to its average volume of 22,152. Summit Financial Group, Inc. has a twelve month low of $19.13 and a twelve month high of $30.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $332.71, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.37 and a beta of 0.96.

Summit Financial Group (NASDAQ:SMMF) last posted its quarterly earnings results on Thursday, October 26th. The bank reported $0.48 earnings per share for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $22.29 million. research analysts forecast that Summit Financial Group, Inc. will post 1.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.11 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.62%. Summit Financial Group’s dividend payout ratio (DPR) is 36.67%.

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Summit Financial Group by 33.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 33,162 shares of the bank’s stock valued at $730,000 after buying an additional 8,242 shares during the period. Teachers Advisors LLC grew its stake in shares of Summit Financial Group by 43.4% in the 2nd quarter. Teachers Advisors LLC now owns 20,107 shares of the bank’s stock valued at $442,000 after buying an additional 6,084 shares during the period. Rhumbline Advisers purchased a new stake in shares of Summit Financial Group in the 2nd quarter valued at approximately $255,000. LSV Asset Management grew its stake in shares of Summit Financial Group by 118.3% in the 2nd quarter. LSV Asset Management now owns 18,900 shares of the bank’s stock valued at $415,000 after buying an additional 10,244 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Summit Financial Group by 69.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 21,700 shares of the bank’s stock valued at $478,000 after buying an additional 8,900 shares during the period. 22.86% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on SMMF shares. Zacks Investment Research upgraded shares of Summit Financial Group from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, September 6th. Sandler O’Neill downgraded shares of Summit Financial Group from a “buy” rating to a “hold” rating and increased their price objective for the company from $25.00 to $26.00 in a report on Monday, September 25th. Finally, BidaskClub downgraded shares of Summit Financial Group from a “hold” rating to a “sell” rating in a report on Friday, August 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).

Insider Buying and Selling by Quarter for Summit Financial Group (NASDAQ:SMMF)

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