Summit Financial Group, Inc. (SMMF) Announces Quarterly Dividend of $0.11
Summit Financial Group, Inc. (NASDAQ:SMMF) announced a quarterly dividend on Friday, August 25th, Wall Street Journal reports. Shareholders of record on Friday, September 15th will be given a dividend of 0.11 per share by the bank on Saturday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 14th.
Shares of Summit Financial Group (NASDAQ SMMF) opened at 21.82 on Friday. The firm has a 50-day moving average price of $21.68 and a 200-day moving average price of $22.04. The stock has a market capitalization of $271.14 million, a P/E ratio of 19.28 and a beta of 1.02. Summit Financial Group has a 52-week low of $18.05 and a 52-week high of $30.06.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. BidaskClub upgraded shares of Summit Financial Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st.
In other news, Director Charles Piccirillo acquired 1,407 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was bought at an average price of $21.69 per share, with a total value of $30,517.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary L. Hinkle acquired 10,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was purchased at an average cost of $21.78 per share, with a total value of $217,800.00. Following the acquisition, the director now directly owns 320,978 shares of the company’s stock, valued at approximately $6,990,900.84. The disclosure for this purchase can be found here. Insiders acquired 16,407 shares of company stock valued at $358,218 in the last ninety days. 22.82% of the stock is owned by corporate insiders.
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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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