Analysts at Sandler O’Neill initiated coverage on shares of Summit Financial Group Inc. (NASDAQ:SMMF) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating on the stock.

Summit Financial Group (NASDAQ:SMMF) opened at 19.37 on Wednesday. The stock has a market cap of $207.10 million, a price-to-earnings ratio of 12.94 and a beta of 0.87. Summit Financial Group has a 12 month low of $11.03 and a 12 month high of $20.77. The firm has a 50-day moving average price of $19.57 and a 200-day moving average price of $18.53.

Summit Financial Group (NASDAQ:SMMF) last issued its quarterly earnings results on Monday, July 25th. The company reported $0.37 EPS for the quarter. Summit Financial Group had a return on equity of 10.88% and a net margin of 22.49%. Equities research analysts expect that Summit Financial Group will post ($0.63) earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Tuesday, September 13th. Summit Financial Group’s payout ratio is 26.49%.

In other news, Director Gary L. Hinkle purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was purchased at an average cost of $19.53 per share, for a total transaction of $97,650.00. Following the completion of the transaction, the director now owns 327,565 shares of the company’s stock, valued at $6,397,344.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary L. Hinkle purchased 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average price of $19.49 per share, with a total value of $68,215.00. Following the completion of the transaction, the director now directly owns 334,454 shares of the company’s stock, valued at approximately $6,518,508.46. The disclosure for this purchase can be found here. Corporate 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).

5 Day Chart for NASDAQ:SMMF

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