Summit Financial Group, Inc. (SMMF) Director Sells $91,391.50 in Stock
Summit Financial Group, Inc. (NASDAQ:SMMF) Director Duke A. Mcdaniel sold 3,889 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $23.50, for a total value of $91,391.50. Following the completion of the transaction, the director now owns 24,220 shares in the company, valued at $569,170. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Summit Financial Group, Inc. (NASDAQ SMMF) opened at $22.85 on Friday. The firm has a market capitalization of $282.40, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.33 and a beta of 0.57. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. Summit Financial Group, Inc. has a one year low of $19.13 and a one year high of $28.16.
Summit Financial Group (NASDAQ:SMMF) last announced its earnings results on Thursday, February 1st. The bank reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $21.37 million during the quarter, compared to the consensus estimate of $23.20 million. Summit Financial Group had a return on equity of 11.88% and a net margin of 12.04%. equities analysts predict that Summit Financial Group, Inc. will post 2.15 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Summit Financial Group by 1.7% in the 4th quarter. BlackRock Inc. now owns 510,827 shares of the bank’s stock worth $13,444,000 after acquiring an additional 8,712 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Summit Financial Group by 46.7% in the 4th quarter. Bank of New York Mellon Corp now owns 55,829 shares of the bank’s stock worth $1,469,000 after acquiring an additional 17,777 shares during the last quarter. Wells Fargo & Company MN increased its stake in Summit Financial Group by 34.3% in the 4th quarter. Wells Fargo & Company MN now owns 20,331 shares of the bank’s stock worth $536,000 after acquiring an additional 5,191 shares during the last quarter. First Trust Advisors LP bought a new position in Summit Financial Group in the 4th quarter worth about $394,000. Finally, Argent Capital Management LLC bought a new position in shares of Summit Financial Group during the 3rd quarter valued at about $660,000. Institutional investors and hedge funds own 22.94% of the company’s stock.
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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