Summit Financial Group, Inc. (NASDAQ:SMMF) VP Patrick Frye sold 3,680 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $27.50, for a total transaction of $101,200.00. Following the completion of the sale, the vice president now directly owns 33,048 shares in the company, valued at approximately $908,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Summit Financial Group, Inc. (NASDAQ SMMF) traded up $0.05 during midday trading on Thursday, hitting $27.14. 15,100 shares of the stock were exchanged, compared to its average volume of 22,096. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $336.68, a PE ratio of 15.22, a PEG ratio of 1.39 and a beta of 0.96. Summit Financial Group, Inc. has a 12-month low of $19.13 and a 12-month high of $30.06.
Summit Financial Group (NASDAQ:SMMF) last posted its quarterly earnings results on Thursday, October 26th. The bank reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $21.23 million for 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 11.72%. research analysts forecast that Summit Financial Group, Inc. will post 1.95 earnings per share for the current year.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Summit Financial Group from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Wednesday, September 6th. Sandler O’Neill downgraded shares of Summit Financial Group from a “buy” rating to a “hold” rating and increased their target price for the company from $25.00 to $26.00 in a research note on Monday, September 25th. Finally, BidaskClub downgraded shares of Summit Financial Group from a “hold” rating to a “sell” rating in a research note on Friday, August 25th.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Argent Capital Management LLC bought a new position in shares of Summit Financial Group in the third quarter worth about $660,000. Maltese Capital Management LLC bought a new position in shares of Summit Financial Group in the third quarter worth about $695,000. Dimensional Fund Advisors LP grew its holdings in shares of Summit Financial Group by 32.4% in the third quarter. Dimensional Fund Advisors LP now owns 35,578 shares of the bank’s stock worth $913,000 after purchasing an additional 8,712 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Summit Financial Group by 37.9% in the third quarter. Wells Fargo & Company MN now owns 15,140 shares of the bank’s stock worth $388,000 after purchasing an additional 4,161 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Summit Financial Group by 14.7% in the third quarter. Bank of New York Mellon Corp now owns 38,052 shares of the bank’s stock worth $976,000 after purchasing an additional 4,890 shares during the last quarter. Hedge funds and other institutional investors own 22.86% of the company’s stock.
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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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