Stock analysts at Sandler O’Neill initiated coverage on shares of Summit Financial Group Inc. (NASDAQ:SMMF) in a research note issued to investors on Wednesday. The firm set a “buy” rating and a $22.00 price target on the stock. Sandler O’Neill’s price target suggests a potential upside of 12.53% from the stock’s current price.
Summit Financial Group (NASDAQ:SMMF) opened at 19.55 on Wednesday. The firm has a market cap of $209.03 million, a price-to-earnings ratio of 13.06 and a beta of 0.87. The company’s 50-day moving average price is $19.57 and its 200-day moving average price is $18.54. Summit Financial Group has a 52-week low of $11.03 and a 52-week high of $20.77.
Summit Financial Group (NASDAQ:SMMF) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.37 earnings per share for the quarter. Summit Financial Group had a return on equity of 10.88% and a net margin of 22.49%. Analysts predict that Summit Financial Group will post ($0.63) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 2.05%. Summit Financial Group’s dividend payout ratio is presently 26.49%.
In other news, Director Gary L. Hinkle purchased 5,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was purchased at an average price of $19.53 per share, with a total value of $97,650.00. Following the acquisition, the director now directly owns 327,565 shares in the company, valued at approximately $6,397,344.45. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gary L. Hinkle purchased 3,500 shares of the business’s stock in a transaction on Friday, August 19th. The stock was purchased at an average cost of $19.49 per share, with a total value of $68,215.00. Following the acquisition, the director now owns 334,454 shares in the company, valued at $6,518,508.46. The disclosure for this purchase can be found here. Corporate insiders own 22.82% of the company’s stock.
About Summit Financial Group