Summit Financial Group, Inc. (SMMF) To Go Ex-Dividend on December 13th

Summit Financial Group, Inc. (NASDAQ:SMMF) declared a quarterly dividend on Thursday, November 21st, Zacks reports. Investors of record on Monday, December 16th will be given a dividend of 0.15 per share by the bank on Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, December 13th.

NASDAQ:SMMF traded down $0.02 during trading hours on Wednesday, hitting $26.63. 1,121 shares of the company traded hands, compared to its average volume of 17,884. Summit Financial Group has a twelve month low of $17.94 and a twelve month high of $27.47. The stock has a market capitalization of $328.39 million, a price-to-earnings ratio of 11.85 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $26.26 and a 200 day moving average of $25.89.

Summit Financial Group (NASDAQ:SMMF) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. Summit Financial Group had a net margin of 25.07% and a return on equity of 13.38%. The company had revenue of $23.18 million during the quarter. Equities research analysts predict that Summit Financial Group will post 2.28 earnings per share for the current fiscal year.

In other news, Director Dewey F. Bensenhaver sold 8,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $25.00, for a total value of $200,000.00. Following the completion of the transaction, the director now owns 42,310 shares in the company, valued at approximately $1,057,750. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.62% of the company’s stock.

A number of equities analysts have recently issued reports on SMMF shares. BidaskClub upgraded shares of Summit Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. ValuEngine cut shares of Summit Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th.

Summit Financial Group Company Profile

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 and South Central regions of West Virginia and the Shenandoah Valley, and Southwestern regions of Virginia.

Further Reading: Dead Cat Bounce

Dividend History for Summit Financial Group (NASDAQ:SMMF)

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