Summit Financial Group, Inc. (NASDAQ:SMMF) Director James P. Geary II Purchases 896 Shares

Summit Financial Group, Inc. (NASDAQ:SMMFGet Free Report) Director James P. Geary II purchased 896 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were acquired at an average price of $25.58 per share, with a total value of $22,919.68. Following the purchase, the director now directly owns 31,569 shares in the company, valued at approximately $807,535.02. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Summit Financial Group Price Performance

Shares of NASDAQ:SMMF opened at $26.00 on Wednesday. The company’s 50-day moving average is $27.02 and its 200 day moving average is $25.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $381.68 million, a P/E ratio of 6.81 and a beta of 0.38. Summit Financial Group, Inc. has a fifty-two week low of $17.06 and a fifty-two week high of $31.49.

Summit Financial Group (NASDAQ:SMMFGet Free Report) last released its quarterly earnings data on Thursday, January 25th. The bank reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. The business had revenue of $72.32 million for the quarter. Summit Financial Group had a net margin of 20.97% and a return on equity of 13.99%. On average, equities research analysts forecast that Summit Financial Group, Inc. will post 4 earnings per share for the current year.

Summit Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, March 14th. Summit Financial Group’s payout ratio is 23.04%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Summit Financial Group in a research note on Saturday. They issued a “hold” rating for the company.

Check Out Our Latest Research Report on SMMF

Institutional Investors Weigh In On Summit Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Summit Financial Group by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 569,002 shares of the bank’s stock worth $17,463,000 after purchasing an additional 5,515 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Summit Financial Group in the fourth quarter worth approximately $384,000. Barclays PLC bought a new position in shares of Summit Financial Group in the fourth quarter worth approximately $978,000. Nuveen Asset Management LLC increased its position in shares of Summit Financial Group by 30.7% in the fourth quarter. Nuveen Asset Management LLC now owns 26,785 shares of the bank’s stock worth $822,000 after purchasing an additional 6,299 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Summit Financial Group by 4.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 117,223 shares of the bank’s stock worth $3,598,000 after purchasing an additional 4,608 shares during the last quarter. 35.73% of the stock is owned by hedge funds and other institutional investors.

Summit Financial Group Company Profile

(Get Free Report)

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, Southern and North Central regions of West Virginia and the Northern, Shenandoah Valley, and Southwestern regions of Virginia, and the Central region of Kentucky.

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