Summit Financial Group
Market Cap
US$326.2m
Last Updated
2019/10/22 23:40 UTC
Data Sources
Company Financials +
Executive Summary
Summit Financial Group, Inc. operates as a financial holding company for Summit Community Bank, Inc.
Snowflake
Fundamentals
Excellent balance sheet with proven track record and pays a dividend.
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
Market Performance
7 Day Return
1.1%
SMMF
2.9%
US Banks
0.07%
US Market
1 Year Return
21.4%
SMMF
8.6%
US Banks
8.9%
US Market
Return vs Industry: SMMF exceeded the US Banks industry which returned 8.6% over the past year.
Return vs Market: SMMF exceeded the US Market which returned 8.9% over the past year.
Shareholder returns
| SMMF | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.1% | 2.9% | 0.07% |
| 30 Day | -3.8% | 3.4% | -0.3% |
| 90 Day | 1.0% | 2.1% | -1.6% |
| 1 Year | 24.3%21.4% | 11.8%8.6% | 11.3%8.9% |
| 3 Year | 37.9%29.6% | 54.8%44.1% | 46.3%36.8% |
| 5 Year | 186.9%157.7% | 70.2%51.6% | 62.1%44.3% |
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
Is Now The Time To Look At Buying Summit Financial Group, Inc. (NASDAQ:SMMF)?4 weeks ago | Simply Wall St
Does Market Volatility Impact Summit Financial Group, Inc.'s (NASDAQ:SMMF) Share Price?1 month ago | Simply Wall St
Summit Financial Group, Inc. (NASDAQ:SMMF) Looks Interesting, And It's About To Pay A DividendValuation
Is Summit Financial Group undervalued compared to its fair value and its price relative to the market?
10.9x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: SMMF ($26.16) is trading above our estimate of fair value ($20.89)
Significantly Below Fair Value: SMMF is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: SMMF is good value based on its PE Ratio (10.9x) compared to the Banks industry average (12.6x).
PE vs Market: SMMF is good value based on its PE Ratio (10.9x) compared to the US market (17.8x).
Price to Earnings Growth Ratio
PEG Ratio: SMMF's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: SMMF is overvalued based on its PB Ratio (1.4x) compared to the US Banks industry average (1.2x).
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?
-1.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SMMF's earnings are forecast to decline over the next 3 years (-1.9% per year).
Earnings vs Market: SMMF's earnings are forecast to decline over the next 3 years (-1.9% per year).
High Growth Earnings: SMMF's earnings are forecast to decline over the next 3 years.
Revenue vs Market: SMMF's revenue (4.1% per year) is forecast to grow slower than the US market (7.2% per year).
High Growth Revenue: SMMF's revenue (4.1% 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 (10.9%).
Next Steps
Past Performance
How has Summit Financial Group performed over the past 5 years?
19.0%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: SMMF's earnings have grown by 19% per year over the past 5 years.
Accelerating Growth: SMMF's earnings growth over the past year (36.5%) exceeds its 5-year average (19% per year).
Earnings vs Industry: SMMF earnings growth over the past year (36.5%) exceeded the Banks industry 29.7%.
Return on Equity
High ROE: SMMF's Return on Equity (12.7%) is considered low.
Return on Assets
ROA vs Industry: SMMF has a higher Return on Assets than the Banks industry average last year.
Return on Capital Employed
ROCE Improving: Insufficient data to calculate SMMF's Return on Capital Employed to determine if it has improved over the past 3 years.
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
Inventory Level: SMMF has a low level of unsold assets or inventory.
Debt Coverage by Assets: SMMF's debt is not covered by short term assets (assets are 0.4x debt).
Financial Institutions Analysis
Asset Level: SMMF's level of assets compared to its equity is low.
Allowance for Bad Loans: SMMF has a low allowance for bad loans.
Low Risk Liabilities: SMMF's liabilities are made up of primarily low risk sources of funding.
Loan Level: SMMF has an acceptable proportion of non-loan assets held.
Low Risk Deposits: SMMF's loans are broadly funded by customer deposits.
Level of Bad Loans: SMMF has an appropriate level of bad loans (0.74%)
Next Steps
Dividend
What is Summit Financial Group's current dividend yield, its reliability and sustainability?
2.29%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: SMMF's dividend (2.29%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: SMMF's dividend (2.29%) is low compared to the top 25% of dividend payers in the US market (3.68%).
Stable Dividend: SMMF's dividend payments have been volatile in the past 10 years.
Growing Dividend: SMMF's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (23.3%), 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 (27% payout ratio).
Next Steps
Management
What is the CEO of Summit Financial Group's salary, the management and board of directors tenure and is there insider trading?
20.4yrs
Average management tenure
CEO
Charlie Maddy (56yo)
25.8yrs
Tenure
US$1,309,907
Compensation
Mr. H. Charles Maddy, III, also known as Charlie has been the President and Chief Executive Officer of Summit Financial Group Inc. ("Group") since 1994. Mr. Maddy has been Chief Executive Officer of Summit ...
CEO Compensation Analysis
Compensation vs. Market: Charlie's total compensation ($USD1.31M) is about average for companies of similar size in the US market ($USD1.81M).
Compensation vs Earnings: Charlie's compensation has increased by more than 20% in the past year.
Management Age and Tenure
20.4yrs
Average Tenure
56yo
Average Age
Experienced Management: SMMF's management team is seasoned and experienced (20.4 years average tenure).
Board Age and Tenure
20.7yrs
Average Tenure
67yo
Average Age
Experienced Board: SMMF's board of directors are seasoned and experienced ( 20.7 years average tenure).
Insider Trading
Insider Buying: SMMF insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 8,000 |
| Max Price | US$25.00 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 8,000 |
| Max Price | US$25.00 |
| Entity | Individual |
| Role | Chairman of the Board Chairman of the Board |
| Shares | 1,000 |
| Max Price | US$26.00 |
| Entity | Individual |
| Role | Chief Executive Officer Vice Chairman |
| Shares | 8,561 |
| Max Price | US$27.10 |
| Entity | Individual |
| Shares | 4,088 |
| Max Price | US$25.00 |
| Entity | Individual |
| Shares | 4,088 |
| Max Price | US$25.00 |
| Entity | Individual |
| Shares | 2,060 |
| Max Price | US$25.61 |
| Entity | Individual |
| Role | Chief Accounting Officer Senior VP & Chief Accounting Officer |
| Shares | 1,500 |
| Max Price | US$25.70 |
| Entity | Individual |
| Shares | 5,559 |
| Max Price | US$25.62 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 1,027 |
| Max Price | US$24.40 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 1,039 |
| Max Price | US$23.96 |
| Entity | Individual |
| Shares | 2,296 |
| Max Price | US$23.56 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 744 |
| Max Price | US$23.95 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 1,000 |
| Max Price | US$21.00 |
Ownership Breakdown
Management Team
Charlie Maddy (56yo)
Vice Chairman
- Tenure: 25.8yrs
- Compensation: US$1.31m
Robert Tissue (56yo)
Executive VP & CFO
- Tenure: 21.8yrs
- Compensation: US$427.05k
Scott Jennings (58yo)
Senior VP & COO
- Tenure: 19yrs
- Compensation: US$434.29k
Julie Markwood
Senior VP & Chief Accounting Officer
- Tenure: 0yrs
Brad Ritchie (51yo)
Senior VP & President of Summit Community Bank
- Tenure: 7.8yrs
- Compensation: US$404.24k
Teresa Ely
Executive Assistant to President & CEO and Director of Shareholder Relations
- Tenure: 0yrs
Patty Owens
Chief Banking Officer
- Tenure: 0yrs
Danyl Freeman (49yo)
VP & Chief Human Resources Officer
- Tenure: 0yrs
Board Members
Oscar Bean (69yo)
Chairman of the Board
- Tenure: 24.8yrs
- Compensation: US$69.61k
Charlie Maddy (56yo)
Vice Chairman
- Tenure: 25.8yrs
- Compensation: US$1.31m
Dewey Bensenhaver (72yo)
Independent Director
- Tenure: 19.7yrs
- Compensation: US$15.95k
James Cookman (65yo)
Independent Director
- Tenure: 25.8yrs
- Compensation: US$14.00k
Thomas Hawse (74yo)
Independent Director
- Tenure: 31.8yrs
- Compensation: US$18.75k
Gary Hinkle (69yo)
Independent Director
- Tenure: 26.8yrs
- Compensation: US$19.95k
Gerald Huffman (74yo)
Independent Director
- Tenure: 19.7yrs
- Compensation: US$17.30k
Charles Piccirillo (64yo)
Independent Director
- Tenure: 21.8yrs
- Compensation: US$18.55k
Jay Geary (63yo)
Independent Director
- Tenure: 12.4yrs
- Compensation: US$17.35k
John Gianola (65yo)
Independent Director
- Tenure: 2.8yrs
- Compensation: US$19.85k
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: NasdaqCM
- Founded: 1987
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$326.217m
- Shares outstanding: 12.47m
- 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 | NasdaqCM (Nasdaq Capital Market) | 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 | 2019/10/22 23:40 |
| End of Day Share Price | 2019/10/22 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.