Summit Financial Group
Market Cap
US$312.7m
Last Updated
2021/03/05 23:23 UTC
Data Sources
Company Financials +
Executive Summary
Summit Financial Group, Inc. operates as a financial holding company for Summit Community Bank, Inc. More Details
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet and good value.
Similar Companies
Share Price & News
How has Summit Financial Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SMMF is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: SMMF's weekly volatility has decreased from 11% to 6% over the past year.
Market Performance
7 Day Return
3.8%
SMMF
4.5%
US Banks
-0.4%
US Market
1 Year Return
15.2%
SMMF
35.4%
US Banks
36.3%
US Market
Return vs Industry: SMMF underperformed the US Banks industry which returned 27.7% over the past year.
Return vs Market: SMMF underperformed the US Market which returned 31.2% over the past year.
Shareholder returns
| SMMF | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.8% | 4.5% | -0.4% |
| 30 Day | 16.1% | 15.2% | -1.3% |
| 90 Day | 12.7% | 25.4% | 4.9% |
| 1 Year | 19.9%15.2% | 40.3%35.4% | 39.2%36.3% |
| 3 Year | 6.8%-1.8% | 13.1%3.4% | 48.7%39.2% |
| 5 Year | 96.5%74.6% | 100.7%75.2% | 117.0%92.8% |
Long-Term Price Volatility Vs. Market
How volatile is Summit Financial Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Shareholders Of Summit Financial Group (NASDAQ:SMMF) Must Be Happy With Their 87% Return1 month ago | Simply Wall St
Is Summit Financial Group, Inc. (NASDAQ:SMMF) Popular Amongst Insiders?2 months ago | Simply Wall St
What Can We Conclude About Summit Financial Group's (NASDAQ:SMMF) CEO Pay?Valuation
Is Summit Financial Group undervalued compared to its fair value and its price relative to the market?
46.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SMMF ($25) is trading below our estimate of fair value ($46.74)
Significantly Below Fair Value: SMMF is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SMMF is good value based on its PE Ratio (10.3x) compared to the US Banks industry average (12.8x).
PE vs Market: SMMF is good value based on its PE Ratio (10.3x) compared to the US market (21x).
Price to Earnings Growth Ratio
PEG Ratio: SMMF is poor value based on its PEG Ratio (3.5x)
Price to Book Ratio
PB vs Industry: SMMF's PB Ratio (1.1x) is in line with the US Banks industry average.
Next Steps
Future Growth
How is Summit Financial Group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
3.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SMMF's forecast earnings growth (3% per year) is above the savings rate (2%).
Earnings vs Market: SMMF's earnings (3% per year) are forecast to grow slower than the US market (19.5% per year).
High Growth Earnings: SMMF's earnings are forecast to grow, but not significantly.
Revenue vs Market: SMMF's revenue (8% per year) is forecast to grow slower than the US market (10.1% per year).
High Growth Revenue: SMMF's revenue (8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SMMF's Return on Equity is forecast to be low in 3 years time (10.5%).
Next Steps
Past Performance
How has Summit Financial Group performed over the past 5 years?
18.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SMMF has high quality earnings.
Growing Profit Margin: SMMF's current net profit margins (31%) are lower than last year (34.3%).
Past Earnings Growth Analysis
Earnings Trend: SMMF's earnings have grown by 18.3% per year over the past 5 years.
Accelerating Growth: SMMF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SMMF had negative earnings growth (-1.6%) over the past year, making it difficult to compare to the Banks industry average (0.5%).
Return on Equity
High ROE: SMMF's Return on Equity (11.1%) is considered low.
Next Steps
Financial Health
How is Summit Financial Group's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: SMMF's Assets to Equity ratio (11x) is moderate.
Allowance for Bad Loans: SMMF has a sufficient allowance for bad loans (159%).
Low Risk Liabilities: 92% of SMMF's liabilities are made up of primarily low risk sources of funding.
Loan Level: SMMF has an appropriate level of Loans to Assets ratio (77%).
Low Risk Deposits: SMMF's Loans to Deposits ratio (92%) is appropriate.
Level of Bad Loans: SMMF has an appropriate level of bad loans (0.8%).
Next Steps
Dividend
What is Summit Financial Group current dividend yield, its reliability and sustainability?
2.72%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: SMMF's dividend (2.72%) is higher than the bottom 25% of dividend payers in the US market (1.34%).
High Dividend: SMMF's dividend (2.72%) is low compared to the top 25% of dividend payers in the US market (3.72%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, SMMF has been paying a dividend for less than 10 years.
Growing Dividend: SMMF's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (28.1%), SMMF's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SMMF's dividends in 3 years are forecast to be well covered by earnings (26.7% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
18.8yrs
Average management tenure
CEO
Charlie Maddy (57 yo)
27.17yrs
Tenure
US$1,140,714
Compensation
Mr. H. Charles Maddy, III, also known as Charlie has been the President and Chief Executive Officer of Summit Financial Group Inc. ("Group") since 1994. Mr. Maddy has been Chief Executive Officer of Summit...
CEO Compensation Analysis
Compensation vs Market: Charlie's total compensation ($USD1.14M) is about average for companies of similar size in the US market ($USD1.47M).
Compensation vs Earnings: Charlie's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Vice Chairman | 27.17yrs | US$1.14m | 0.83% $ 2.6m | |
| Executive VP & CFO | 23.17yrs | US$601.11k | 0.58% $ 1.8m | |
| Executive VP & COO | 20.42yrs | US$1.01m | 0.18% $ 552.1k | |
| Executive VP & Chief of Credit Administration | 17.25yrs | US$537.18k | 0.30% $ 939.8k | |
| Senior VP & President of Summit Community Bank | 9.17yrs | US$569.08k | 0.18% $ 564.0k | |
| Senior VP & Chief Accounting Officer | no data | no data | 0.11% $ 343.3k | |
| Executive Assistant to President & CEO and Director of Shareholder Relations | no data | no data | no data | |
| Senior VP & Chief Human Resources Officer | no data | no data | no data | |
| Executive Vice President & Chief Banking Officer | no data | no data | 0.044% $ 136.2k | |
| Market President | 1.17yrs | no data | no data |
18.8yrs
Average Tenure
57yo
Average Age
Experienced Management: SMMF's management team is seasoned and experienced (18.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Vice Chairman | 27.17yrs | US$1.14m | 0.83% $ 2.6m | |
| Independent Chairman of the Board | 26.17yrs | US$74.74k | 0.81% $ 2.5m | |
| Independent Director | 21.08yrs | US$15.40k | 0.33% $ 1.0m | |
| Independent Director | 27.17yrs | US$16.00k | 0.20% $ 633.2k | |
| Independent Director | 28.17yrs | US$20.95k | 3.86% $ 12.1m | |
| Independent Director | 23.17yrs | US$19.75k | 0.27% $ 859.8k | |
| Independent Director | 3.92yrs | US$16.60k | 0.075% $ 234.5k | |
| Independent Director | 13.83yrs | US$17.55k | no data | |
| Independent Director | 11.08yrs | US$18.75k | 1.23% $ 3.8m | |
| Independent Director | 9.83yrs | US$17.10k | 0.056% $ 176.6k | |
| Independent Director | 4.25yrs | US$19.80k | 0.025% $ 77.6k | |
| Independent Director | 4.83yrs | US$19.20k | no data |
12.5yrs
Average Tenure
65.5yo
Average Age
Experienced Board: SMMF's board of directors are seasoned and experienced ( 12.5 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: SMMF insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.3%.
Top Shareholders
Company Information
Summit Financial Group, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Summit Financial Group, Inc.
- Ticker: SMMF
- Exchange: NasdaqGS
- Founded: 1987
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$312.679m
- Shares outstanding: 12.94m
- Website: https://www.summitfgi.com
Number of Employees
Location
- Summit Financial Group, Inc.
- 300 North Main Street
- Moorefield
- West Virginia
- 26836
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SMMF | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Jan 1999 |
Biography
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 ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/05 23:23 |
| End of Day Share Price | 2021/03/05 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.