James P. Geary II Acquires 896 Shares of Summit Financial Group, Inc. (NASDAQ:SMMF) Stock

Summit Financial Group, Inc. (NASDAQ:SMMFGet Free Report) Director James P. Geary II purchased 896 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were purchased at an average price of $25.58 per share, for a total transaction of $22,919.68. Following the purchase, the director now owns 31,569 shares in the company, valued at approximately $807,535.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Summit Financial Group Trading Down 0.3 %

Shares of Summit Financial Group stock opened at $25.93 on Thursday. The stock has a market cap of $380.65 million, a PE ratio of 6.79 and a beta of 0.38. The firm has a fifty day moving average price of $26.94 and a 200 day moving average price of $25.69. Summit Financial Group, Inc. has a 1 year low of $17.06 and a 1 year high of $31.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.92.

Summit Financial Group (NASDAQ:SMMFGet Free Report) last issued its earnings results on Thursday, January 25th. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. The firm had revenue of $72.32 million for the quarter. Summit Financial Group had a return on equity of 13.99% and a net margin of 20.97%. Equities research analysts predict that Summit Financial Group, Inc. will post 4 earnings per share for the current year.

Summit Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Thursday, March 14th. Summit Financial Group’s payout ratio is currently 23.04%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Summit Financial Group in a report on Saturday, March 30th. They set a “hold” rating for the company.

Get Our Latest Stock Report on SMMF

Institutional Trading of Summit Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Summit Financial Group by 234.2% during the first quarter. FMR LLC now owns 1,741 shares of the bank’s stock valued at $36,000 after acquiring an additional 1,220 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Summit Financial Group by 430.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,535 shares of the bank’s stock worth $57,000 after buying an additional 2,057 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Summit Financial Group during the second quarter worth $63,000. Lazard Asset Management LLC raised its position in shares of Summit Financial Group by 56.0% in the fourth quarter. Lazard Asset Management LLC now owns 2,685 shares of the bank’s stock valued at $66,000 after buying an additional 964 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in Summit Financial Group by 334,500.0% in the 2nd quarter. Citigroup Inc. now owns 3,346 shares of the bank’s stock valued at $69,000 after acquiring an additional 3,345 shares during the last quarter. 35.73% of the stock is currently owned by hedge funds and other institutional investors.

Summit Financial Group Company Profile

(Get Free Report)

Summit Financial Group, Inc operates as a financial holding company for Summit Community Bank, Inc that provides community banking and other financial services to individuals and businesses primarily in the Eastern Panhandle, Southern and North Central regions of West Virginia and the Northern, Shenandoah Valley, and Southwestern regions of Virginia, and the Central region of Kentucky.

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