Summit Financial Group, Inc. (SMMF) Director Duke A. Mcdaniel Sells 3,889 Shares

Summit Financial Group, Inc. (NASDAQ:SMMF) Director Duke A. Mcdaniel sold 3,889 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was 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 owns 24,220 shares in the company, valued at approximately $569,170. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Summit Financial Group, Inc. (SMMF) opened at $22.85 on Friday. Summit Financial Group, Inc. has a fifty-two week low of $19.13 and a fifty-two week high of $28.16. 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 cap of $282.76, a P/E ratio of 12.64, a P/E/G ratio of 1.33 and a beta of 0.57.

Summit Financial Group (NASDAQ:SMMF) last issued its quarterly earnings data on Thursday, February 1st. The bank reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $21.37 million for the quarter, compared to analyst estimates of $23.20 million. Summit Financial Group had a return on equity of 11.88% and a net margin of 12.04%. analysts expect that Summit Financial Group, Inc. will post 2.15 earnings per share for the current year.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Summit Financial Group from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 31st. BidaskClub downgraded shares of Summit Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, December 21st.

Several hedge funds and other institutional investors have recently modified their holdings of SMMF. Nationwide Fund Advisors grew its stake in shares of Summit Financial Group by 28.5% during the 2nd quarter. Nationwide Fund Advisors now owns 5,987 shares of the bank’s stock worth $132,000 after purchasing an additional 1,328 shares during the period. Stifel Financial Corp acquired a new stake in shares of Summit Financial Group during the 2nd quarter worth approximately $207,000. Chicago Equity Partners LLC acquired a new stake in shares of Summit Financial Group during the 3rd quarter worth approximately $247,000. Rhumbline Advisers acquired a new stake in shares of Summit Financial Group during the 2nd quarter worth approximately $255,000. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Summit Financial Group during the 2nd quarter worth approximately $285,000. 22.94% of the stock is currently owned by institutional investors and hedge funds.

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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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