News coverage about Summit Financial Group (NASDAQ:SMMF) has trended somewhat positive recently, according to Accern. Accern rates the sentiment of media coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Summit Financial Group earned a news impact score of 0.09 on Accern’s scale. Accern also gave news coverage about the bank an impact score of 46.774228836681 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Summit Financial Group traded down $0.35, hitting $26.87, during trading on Wednesday, according to MarketBeat. 412 shares of the stock traded hands, compared to its average volume of 15,655. Summit Financial Group has a twelve month low of $20.93 and a twelve month high of $28.16. The company has a market cap of $343.80 million, a P/E ratio of 14.22, a P/E/G ratio of 1.53 and a beta of 0.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.91.
Summit Financial Group (NASDAQ:SMMF) last announced its quarterly earnings data on Thursday, April 26th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.53 by $0.07. The business had revenue of $22.13 million during the quarter, compared to the consensus estimate of $21.60 million. Summit Financial Group had a net margin of 19.70% and a return on equity of 12.24%. analysts expect that Summit Financial Group will post 2.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.94%. Summit Financial Group’s payout ratio is presently 27.51%.
A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Summit Financial Group from a “hold” rating to a “buy” rating in a research report on Tuesday. ValuEngine downgraded shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd.
In related news, Director Charles Piccirillo bought 1,000 shares of the firm’s stock in a transaction on Friday, May 4th. The shares were purchased at an average price of $25.69 per share, with a total value of $25,690.00. Following the completion of the purchase, the director now owns 33,498 shares in the company, valued at approximately $860,563.62. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Duke A. Mcdaniel sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $25.38, for a total transaction of $76,140.00. Following the sale, the director now directly owns 23,220 shares in the company, valued at approximately $589,323.60. The disclosure for this sale can be found here. Insiders own 7.97% of the company’s stock.
About Summit Financial Group
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.
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