Summit Financial Group (SMMF) Getting Somewhat Negative News Coverage, Report Finds

Headlines about Summit Financial Group (NASDAQ:SMMF) have trended somewhat negative this week, Accern reports. The research group identifies positive and negative press coverage by reviewing 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 closest to one being the most favorable. Summit Financial Group earned a media sentiment score of -0.01 on Accern’s scale. Accern also gave media headlines about the bank an impact score of 44.6072918581072 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Shares of Summit Financial Group (NASDAQ:SMMF) opened at $26.81 on Tuesday. 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 firm has a market capitalization of $337.55, a P/E ratio of 22.34, a P/E/G ratio of 1.36 and a beta of 0.96. Summit Financial Group has a 52 week low of $19.13 and a 52 week high of $28.16.

Summit Financial Group (NASDAQ:SMMF) last released its quarterly earnings data 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 will post 1.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.11 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.44 annualized dividend and a yield of 1.64%. Summit Financial Group’s dividend payout ratio (DPR) is presently 36.67%.

A number of research analysts have weighed in on SMMF shares. Zacks Investment Research downgraded Summit Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Sandler O’Neill downgraded Summit Financial Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $25.00 to $26.00 in a research note on Monday, September 25th. Finally, BidaskClub downgraded Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st.

In other news, Chairman Oscar M. Bean sold 4,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $27.01, for a total transaction of $108,040.00. Following the transaction, the chairman now directly owns 89,842 shares of the company’s stock, valued at approximately $2,426,632.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Patrick Frye sold 3,680 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $27.50, for a total value of $101,200.00. Following the transaction, the vice president now directly owns 33,048 shares in the company, valued at $908,820. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 7,461 shares of company stock worth $194,499 and sold 31,797 shares worth $859,990. Corporate insiders own 22.82% of the company’s stock.

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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).

Insider Buying and Selling by Quarter for Summit Financial Group (NASDAQ:SMMF)

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