Summit Financial Group, Inc. (NASDAQ:SMMF) COO Scott C. Jennings sold 1,646 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $27.00, for a total value of $44,442.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Scott C. Jennings also recently made the following trade(s):
- On Monday, December 4th, Scott C. Jennings sold 3,880 shares of Summit Financial Group stock. The stock was sold at an average price of $27.00, for a total value of $104,760.00.
Shares of Summit Financial Group, Inc. (NASDAQ SMMF) traded up $0.45 on Tuesday, hitting $27.22. The stock had a trading volume of 43,600 shares, compared to its average volume of 22,152. The company has a market capitalization of $332.71, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.37 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. Summit Financial Group, Inc. has a 52 week low of $19.13 and a 52 week high of $30.06.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.44 annualized dividend and a yield of 1.62%. Summit Financial Group’s dividend payout ratio is currently 36.67%.
A number of hedge funds have recently bought and sold shares of SMMF. Summit Financial Group Inc. bought a new stake in shares of Summit Financial Group in the second quarter valued at $5,402,000. Vanguard Group Inc. raised its stake in shares of Summit Financial Group by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 242,585 shares of the bank’s stock valued at $5,337,000 after purchasing an additional 6,609 shares during the period. State Street Corp grew its position in Summit Financial Group by 25.9% during the second quarter. State Street Corp now owns 145,363 shares of the bank’s stock worth $3,198,000 after buying an additional 29,866 shares in the last quarter. Northern Trust Corp grew its position in Summit Financial Group by 31.7% during the second quarter. Northern Trust Corp now owns 114,564 shares of the bank’s stock worth $2,520,000 after buying an additional 27,551 shares in the last quarter. Finally, Context BH Capital Management LP purchased a new position in Summit Financial Group during the second quarter worth about $2,494,000. 22.86% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on SMMF shares. Zacks Investment Research cut Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. BidaskClub cut Summit Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Sandler O’Neill lowered Summit Financial Group from a “buy” rating to a “hold” rating and increased their target price for the stock from $25.00 to $26.00 in a report on Monday, September 25th.
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Summit Financial Group Company Profile
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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