Summit Financial Group (SMMF) Given News Impact Rating of 0.24

Media stories about Summit Financial Group (NASDAQ:SMMF) have trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. The research firm identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Summit Financial Group earned a news sentiment score of 0.24 on Accern’s scale. Accern also assigned media coverage about the bank an impact score of 46.3583499380734 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

A number of brokerages recently issued reports on SMMF. BidaskClub upgraded shares of Summit Financial Group from a “strong sell” rating to a “sell” rating in a research note on Monday, February 19th. Zacks Investment Research lowered shares of Summit Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th.

Shares of SMMF stock traded down $0.21 during trading hours on Wednesday, hitting $25.34. 11,814 shares of the company were exchanged, compared to its average volume of 17,082. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $319.86, a price-to-earnings ratio of 14.18, a PEG ratio of 1.49 and a beta of 0.64. Summit Financial Group has a fifty-two week low of $19.13 and a fifty-two week high of $28.16.

Summit Financial Group (NASDAQ:SMMF) last issued its quarterly earnings results on Thursday, February 1st. The bank reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $21.37 million during the quarter, compared to the consensus estimate of $23.20 million. Summit Financial Group had a return on equity of 11.57% and a net margin of 12.04%. analysts forecast that Summit Financial Group will post 2.15 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Summit Financial Group’s previous quarterly dividend of $0.11. Summit Financial Group’s payout ratio is 54.74%.

In other Summit Financial Group news, Director Gary L. Hinkle bought 3,628 shares of the stock in a transaction on Wednesday, February 14th. The stock was purchased at an average price of $23.26 per share, for a total transaction of $84,387.28. Following the completion of the purchase, the director now directly owns 372,227 shares in the company, valued at $8,658,000.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the director now owns 24,220 shares of the company’s stock, valued at approximately $569,170. The disclosure for this sale can be found here. 22.82% of the stock is owned by insiders.

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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).

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

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