News headlines about Summit Financial Group (NASDAQ:SMMF) have trended somewhat positive on Saturday, according to Accern Sentiment. Accern rates the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Summit Financial Group earned a media sentiment score of 0.00 on Accern’s scale. Accern also assigned headlines about the bank an impact score of 44.5117377241892 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub downgraded Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, Sandler O’Neill downgraded Summit Financial Group from a “buy” rating to a “hold” rating and raised their target price for the company from $25.00 to $26.00 in a research note on Monday, September 25th.
Summit Financial Group (NASDAQ:SMMF) opened at $27.29 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89. Summit Financial Group has a 12-month low of $19.13 and a 12-month high of $28.16. The company has a market cap of $337.68, a PE ratio of 22.74, a PEG ratio of 1.36 and a beta of 0.96.
Summit Financial Group (NASDAQ:SMMF) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $0.48 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $22.29 million. research analysts forecast that Summit Financial Group will post 1.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.11 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.61%. Summit Financial Group’s payout ratio is 36.67%.
In other news, Chairman Oscar M. Bean sold 4,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $27.01, for a total transaction of $108,040.00. Following the transaction, the chairman now owns 89,842 shares of the company’s stock, valued at $2,426,632.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary L. Hinkle purchased 2,130 shares of Summit Financial Group stock in a transaction dated Thursday, November 2nd. The shares were bought at an average cost of $26.94 per share, for a total transaction of $57,382.20. Following the transaction, the director now directly owns 94,132 shares of the company’s stock, valued at approximately $2,535,916.08. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 7,461 shares of company stock worth $194,499 and have sold 31,797 shares worth $859,990. Company insiders own 22.82% of the company’s stock.
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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