Summit Financial Group, Inc. (SMMF) COO Sells $24,906.00 in Stock

Summit Financial Group, Inc. (NASDAQ:SMMF) COO Scott C. Jennings sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $17.79, for a total value of $24,906.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NASDAQ:SMMF opened at $21.04 on Friday. The stock has a market capitalization of $255.34 million, a P/E ratio of 11.13, a PEG ratio of 1.17 and a beta of 0.70. Summit Financial Group, Inc. has a one year low of $20.33 and a one year high of $28.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90.

Summit Financial Group (NASDAQ:SMMF) last posted its quarterly earnings results on Thursday, October 25th. The bank reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $21.42 million during the quarter, compared to the consensus estimate of $22.48 million. Summit Financial Group had a return on equity of 12.73% and a net margin of 20.89%. On average, analysts predict that Summit Financial Group, Inc. will post 2.18 EPS for the current year.

Several brokerages have recently weighed in on SMMF. BidaskClub upgraded Summit Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Zacks Investment Research upgraded Summit Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, ValuEngine downgraded Summit Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, September 24th.

Large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. grew its stake in Summit Financial Group by 13.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 22,943 shares of the bank’s stock worth $616,000 after purchasing an additional 2,653 shares in the last quarter. Zacks Investment Management acquired a new position in Summit Financial Group in the second quarter worth about $206,000. Northern Trust Corp grew its stake in Summit Financial Group by 4.2% in the second quarter. Northern Trust Corp now owns 115,484 shares of the bank’s stock worth $3,100,000 after purchasing an additional 4,602 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Summit Financial Group in the second quarter worth about $110,000. Finally, Dimensional Fund Advisors LP grew its stake in Summit Financial Group by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 97,882 shares of the bank’s stock worth $2,627,000 after purchasing an additional 17,198 shares in the last quarter. Institutional investors and hedge funds own 26.26% of the company’s stock.

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Summit Financial Group Company Profile

Summit Financial Group, Inc operates as a financial holding company for Summit Community Bank, Inc that provides community banking and other financial services to individuals and businesses primarily in the Eastern Panhandle and South Central regions of West Virginia and the Shenandoah Valley, and Southwestern regions of Virginia.

See Also: Cash Flow

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

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