Summit Financial Group (SMMF) Earning Positive News Coverage, Report Finds
Media coverage about Summit Financial Group (NASDAQ:SMMF) has been trending positive on Wednesday, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Summit Financial Group earned a coverage optimism score of 0.27 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 46.5273543435764 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
SMMF has been the topic of a number of analyst reports. BidaskClub cut shares of Summit Financial Group from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Zacks Investment Research cut shares of Summit Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th.
Summit Financial Group (SMMF) opened at $25.66 on Wednesday. The company has a market cap of $318.62, a price-to-earnings ratio of 27.01, a PEG ratio of 1.49 and a beta of 0.64. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. Summit Financial Group has a 1 year low of $19.13 and a 1 year high of $28.16.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.13 per share. This is a positive change from Summit Financial Group’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, March 14th. Summit Financial Group’s payout ratio is 46.32%.
In other news, Director Duke A. Mcdaniel sold 3,889 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $23.50, for a total transaction of $91,391.50. Following the completion of the transaction, the director now directly owns 24,220 shares in the company, valued at approximately $569,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary L. Hinkle purchased 3,628 shares of Summit Financial Group stock in a transaction dated Wednesday, February 14th. The shares were purchased at an average price of $23.26 per share, with a total value of $84,387.28. Following the completion of the transaction, the director now directly owns 372,227 shares in the company, valued at $8,658,000.02. The disclosure for this purchase can be found here. Insiders have sold a total of 8,632 shares of company stock valued at $217,447 over the last 90 days. Company 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).
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