Summit Financial Group, Inc. (SMMF) Director Gary L. Hinkle Acquires 3,001 Shares
Summit Financial Group, Inc. (NASDAQ:SMMF) Director Gary L. Hinkle acquired 3,001 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were bought at an average price of $25.10 per share, for a total transaction of $75,325.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Summit Financial Group, Inc. (NASDAQ:SMMF) traded down $0.18 during midday trading on Tuesday, reaching $25.47. The company’s stock had a trading volume of 29,000 shares, compared to its average volume of 21,999. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $318.79, a PE ratio of 14.41, a PEG ratio of 1.32 and a beta of 1.00. Summit Financial Group, Inc. has a 1-year low of $19.13 and a 1-year high of $30.06.
Summit Financial Group (NASDAQ:SMMF) last announced its earnings results on Thursday, October 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $21.23 million for the quarter, compared to analysts’ expectations of $22.29 million. Summit Financial Group had a return on equity of 11.72% and a net margin of 15.35%. analysts forecast that Summit Financial Group, Inc. will post 1.95 EPS for the current year.
Several institutional investors have recently bought and sold shares of SMMF. Summit Financial Group Inc. acquired a new stake in shares of Summit Financial Group in the 2nd quarter worth $5,402,000. Context BH Capital Management LP acquired a new stake in Summit Financial Group during the 2nd quarter worth about $2,494,000. State Street Corp lifted its position in Summit Financial Group by 25.9% during the 2nd quarter. State Street Corp now owns 145,363 shares of the bank’s stock worth $3,198,000 after acquiring an additional 29,866 shares during the period. Northern Trust Corp lifted its position in Summit Financial Group by 31.7% during the 2nd quarter. Northern Trust Corp now owns 114,564 shares of the bank’s stock worth $2,520,000 after acquiring an additional 27,551 shares during the period. Finally, Maltese Capital Management LLC acquired a new stake in Summit Financial Group during the 3rd quarter worth about $695,000. 20.45% of the stock is owned by hedge funds and other institutional investors.
SMMF has been the topic of several research reports. Zacks Investment Research downgraded Summit Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub upgraded Summit Financial Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Sandler O’Neill downgraded Summit Financial Group from a “buy” rating to a “hold” rating and raised their price objective for the stock from $25.00 to $26.00 in a report on Monday, September 25th.
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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