Shares of Summit Financial Group, Inc. (NASDAQ:SMMF) have been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.
Analysts have set a 12 month consensus target price of $28.00 for the company and are anticipating that the company will post $0.51 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Summit Financial Group an industry rank of 200 out of 265 based on the ratings given to related companies.
Several research analysts recently commented on the company. Zacks Investment Research downgraded Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. BidaskClub downgraded Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st.
In related news, Director Gary L. Hinkle bought 3,628 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was acquired at an average cost of $23.26 per share, with a total value of $84,387.28. Following the purchase, the director now directly owns 372,227 shares of the company’s stock, valued at $8,658,000.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Duke A. Mcdaniel sold 3,889 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $23.50, for a total value of $91,391.50. Following the completion of the sale, the director now directly owns 24,220 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. Insiders sold a total of 5,789 shares of company stock valued at $140,820 over the last ninety days. Corporate insiders own 22.82% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SMMF. TIAA CREF Investment Management LLC increased its stake in shares of Summit Financial Group by 7.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 27,789 shares of the bank’s stock worth $611,000 after acquiring an additional 1,841 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Summit Financial Group by 28.5% in the 2nd quarter. Nationwide Fund Advisors now owns 5,987 shares of the bank’s stock worth $132,000 after acquiring an additional 1,328 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Summit Financial Group by 133.1% in the 2nd quarter. New York State Common Retirement Fund now owns 14,182 shares of the bank’s stock worth $312,000 after acquiring an additional 8,098 shares during the last quarter. Northern Trust Corp increased its stake in shares of Summit Financial Group by 31.7% in the 2nd quarter. Northern Trust Corp now owns 114,564 shares of the bank’s stock worth $2,520,000 after acquiring an additional 27,551 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Summit Financial Group by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 242,585 shares of the bank’s stock worth $5,337,000 after acquiring an additional 6,609 shares during the last quarter. 25.06% of the stock is owned by institutional investors and hedge funds.
Summit Financial Group (NASDAQ:SMMF) opened at $25.35 on Friday. Summit Financial Group has a 52 week low of $19.13 and a 52 week high of $28.16. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $319.86, a price-to-earnings ratio of 26.68, a P/E/G ratio of 1.49 and a beta of 0.64.
Summit Financial Group (NASDAQ:SMMF) last posted its quarterly earnings data on Thursday, February 1st. The bank reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.01). Summit Financial Group had a net margin of 12.04% and a return on equity of 11.57%. The firm had revenue of $21.37 million during the quarter, compared to analyst estimates of $23.20 million. equities analysts predict that Summit Financial Group will post 2.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Summit Financial Group’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. Summit Financial Group’s dividend payout ratio (DPR) is 46.32%.
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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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