Summit Financial Group, Inc. (NASDAQ:SMMF) COO Scott C. Jennings sold 3,880 shares of Summit Financial Group stock in a transaction on Monday, December 4th. The stock was sold at an average price of $27.00, for a total value of $104,760.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Scott C. Jennings also recently made the following trade(s):
- On Friday, December 1st, Scott C. Jennings sold 1,646 shares of Summit Financial Group stock. The stock was sold at an average price of $27.00, for a total value of $44,442.00.
Shares of Summit Financial Group, Inc. (SMMF) traded down $0.13 during midday trading on Wednesday, hitting $27.09. The company had a trading volume of 16,100 shares, compared to its average volume of 22,126. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. Summit Financial Group, Inc. has a 52 week low of $19.13 and a 52 week high of $30.06. The company has a market capitalization of $338.30, a PE ratio of 15.29, a P/E/G ratio of 1.40 and a beta of 0.96.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, December 14th. Summit Financial Group’s payout ratio is currently 36.67%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors grew its position in Summit Financial Group by 28.5% in the second quarter. Nationwide Fund Advisors now owns 5,987 shares of the bank’s stock valued at $132,000 after acquiring an additional 1,328 shares during the last quarter. Stifel Financial Corp bought a new position in Summit Financial Group in the second quarter valued at about $207,000. Chicago Equity Partners LLC bought a new position in Summit Financial Group in the third quarter valued at about $247,000. Rhumbline Advisers bought a new position in Summit Financial Group in the second quarter valued at about $255,000. Finally, Darrell & King LLC bought a new position in Summit Financial Group in the second quarter valued at about $263,000. Institutional investors own 22.86% of the company’s stock.
A number of research firms have recently weighed in on SMMF. Zacks Investment Research raised Summit Financial Group from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Tuesday, October 31st. Sandler O’Neill cut Summit Financial Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $25.00 to $26.00 in a research report on Monday, September 25th. Finally, BidaskClub cut Summit Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, August 25th.
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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