Dewey F. Bensenhaver Sells 2,246 Shares of Summit Financial Group, Inc. (SMMF) Stock
Summit Financial Group, Inc. (NASDAQ:SMMF) Director Dewey F. Bensenhaver sold 2,246 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $26.85, for a total transaction of $60,305.10. Following the completion of the sale, the director now directly owns 54,096 shares of the company’s stock, valued at approximately $1,452,477.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Summit Financial Group, Inc. (SMMF) opened at $27.09 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The firm has a market cap of $338.30, a P/E ratio of 15.29, a P/E/G ratio of 1.40 and a beta of 0.96. Summit Financial Group, Inc. has a fifty-two week low of $19.13 and a fifty-two week high of $30.06.
Summit Financial Group (NASDAQ:SMMF) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $21.23 million during the quarter, compared to analyst estimates of $22.29 million. Summit Financial Group had a net margin of 15.35% and a return on equity of 11.72%. research analysts expect that Summit Financial Group, Inc. will post 1.95 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in Summit Financial Group by 33.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 33,162 shares of the bank’s stock worth $730,000 after acquiring an additional 8,242 shares during the period. Teachers Advisors LLC grew its holdings in Summit Financial Group by 43.4% during the 2nd quarter. Teachers Advisors LLC now owns 20,107 shares of the bank’s stock worth $442,000 after acquiring an additional 6,084 shares during the period. Rhumbline Advisers acquired a new stake in Summit Financial Group during the 2nd quarter worth $255,000. LSV Asset Management grew its holdings in Summit Financial Group by 118.3% during the 2nd quarter. LSV Asset Management now owns 18,900 shares of the bank’s stock worth $415,000 after acquiring an additional 10,244 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Summit Financial Group by 69.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 21,700 shares of the bank’s stock worth $478,000 after acquiring an additional 8,900 shares during the period. 22.86% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on SMMF. Zacks Investment Research lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub lowered shares of Summit Financial Group from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Sandler O’Neill lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating and raised their price target for the company from $25.00 to $26.00 in a report on Monday, September 25th.
TRADEMARK VIOLATION WARNING: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/12/06/dewey-f-bensenhaver-sells-2246-shares-of-summit-financial-group-inc-smmf-stock.html.
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).
Receive News & Stock Ratings for Summit Financial Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Financial Group Inc. and related stocks with our FREE daily email newsletter.