BidaskClub downgraded shares of Summit Financial Group, Inc. (NASDAQ:SMMF) from a sell rating to a strong sell rating in a report released on Monday.
Separately, Zacks Investment Research upgraded Summit Financial Group from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Wednesday, May 24th.
Shares of Summit Financial Group (SMMF) opened at 21.04 on Monday. The company has a market cap of $261.42 million, a PE ratio of 19.48 and a beta of 1.02. Summit Financial Group has a 52-week low of $17.38 and a 52-week high of $30.06. The company’s 50-day moving average is $21.79 and its 200 day moving average is $22.86.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a $0.11 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $0.44 annualized dividend and a yield of 2.09%. Summit Financial Group’s dividend payout ratio is currently 40.37%.
In other news, Director Thomas J. Hawse III sold 3,000 shares of Summit Financial Group stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $22.00, for a total transaction of $66,000.00. Following the completion of the sale, the director now owns 95,132 shares in the company, valued at approximately $2,092,904. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles Piccirillo purchased 1,407 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were acquired at an average price of $21.69 per share, with a total value of $30,517.83. The disclosure for this purchase can be found here. Company insiders own 22.82% of the company’s stock.
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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