Summit Financial Group, Inc. (NASDAQ:SMMF) Chairman Oscar M. Bean sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chairman now directly owns 84,842 shares of the company’s stock, valued at $2,205,892. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of NASDAQ SMMF traded down $0.67 during trading hours on Wednesday, reaching $25.34. The stock had a trading volume of 15,016 shares, compared to its average volume of 21,360. The stock has a market capitalization of $322.54 million, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.44 and a beta of 0.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.93 and a current ratio of 0.93. Summit Financial Group, Inc. has a fifty-two week low of $17.94 and a fifty-two week high of $27.47. The business’s 50-day simple moving average is $26.20.
Summit Financial Group (NASDAQ:SMMF) last announced its earnings results on Thursday, July 25th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $26.07 million during the quarter, compared to analysts’ expectations of $23.68 million. Summit Financial Group had a return on equity of 13.30% and a net margin of 24.74%. Equities analysts anticipate that Summit Financial Group, Inc. will post 2.2 EPS for the current fiscal year.
A number of analysts recently issued reports on the company. BidaskClub cut Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Zacks Investment Research cut Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th.
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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