Summit Financial Group, Inc. operates as a financial holding company for Summit Community Bank, Inc.
Flawless balance sheet and undervalued.
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's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: SMMF underperformed the US Banks industry which returned -29.2% over the past year.
Return vs Market: SMMF underperformed the US Market which returned 6% over the past year.
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 month ago | Simply Wall StSummit Financial Group, Inc. (NASDAQ:SMMF) Looks Like A Good Stock, And It's Going Ex-Dividend Soon
1 month ago | Simply Wall StHere's What We Think About Summit Financial Group, Inc.'s (NASDAQ:SMMF) CEO Pay
2 months ago | Simply Wall StSummit Financial Group, Inc. Just Recorded A 16% Earnings Beat: Here's What Analysts Think
Is Summit Financial Group undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SMMF ($15.03) is trading below our estimate of fair value ($34.16)
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 (6.5x) compared to the Banks industry average (9.3x).
PE vs Market: SMMF is good value based on its PE Ratio (6.5x) compared to the US market (16.1x).
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 good value based on its PB Ratio (0.8x) compared to the US Banks industry average (0.8x).
How is Summit Financial Group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
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 (-0.2% per year).
Earnings vs Market: SMMF's earnings are forecast to decline over the next 3 years (-0.2% per year).
High Growth Earnings: SMMF's earnings are forecast to decline over the next 3 years.
Revenue vs Market: SMMF's revenue (4.9% per year) is forecast to grow slower than the US market (9.3% per year).
High Growth Revenue: SMMF's revenue (4.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if SMMF's Return on Equity is forecast to be high in 3 years time
How has Summit Financial Group performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SMMF has high quality earnings.
Growing Profit Margin: SMMF's current net profit margins (32.2%) are lower than last year (32.3%).
Past Earnings Growth Analysis
Earnings Trend: SMMF's earnings have grown by 19.2% per year over the past 5 years.
Accelerating Growth: SMMF's earnings growth over the past year (5.5%) is below its 5-year average (19.2% per year).
Earnings vs Industry: SMMF earnings growth over the past year (5.5%) exceeded the Banks industry 1.8%.
Return on Equity
High ROE: SMMF's Return on Equity (11.4%) is considered low.
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
Financial Institutions Analysis
Asset Level: SMMF's Assets to Equity ratio (9.8x) is low.
Allowance for Bad Loans: SMMF has a sufficient allowance for bad loans (229%).
Low Risk Liabilities: 91% 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 (79%).
Low Risk Deposits: SMMF's Loans to Deposits ratio (97%) is appropriate.
Level of Bad Loans: SMMF has an appropriate level of bad loans (0.5%).
What is Summit Financial Group current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SMMF's dividend (4.52%) is higher than the bottom 25% of dividend payers in the US market (1.68%).
High Dividend: SMMF's dividend (4.52%) is low compared to the top 25% of dividend payers in the US market (4.6%).
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 5 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (26.6%), SMMF's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Charlie Maddy (57yo)
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 ($USD1.34M).
Compensation vs Earnings: Charlie's compensation has been consistent with company performance over the past year.
|Vice Chairman||26.5yrs||US$1.14m||0.83% $1.6m|
|Executive VP & CFO||22.5yrs||US$601.11k||0.59% $1.1m|
|Executive VP & COO||19.75yrs||US$1.01m||0.18% $342.9k|
|Senior VP & President of Summit Community Bank||8.5yrs||US$569.08k||0.18% $350.9k|
|Senior VP & Chief Accounting Officer||no data||no data||0.11% $213.6k|
|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||0.043% $84.7k|
|Market President||0.50yr||no data||no data|
Experienced Management: SMMF's management team is seasoned and experienced (19.8 years average tenure).
|Vice Chairman||26.5yrs||US$1.14m||0.83% $1.6m|
|Independent Chairman of the Board||25.5yrs||US$74.74k||0.81% $1.6m|
|Independent Director||20.42yrs||US$15.40k||0.33% $640.5k|
|Independent Director||26.5yrs||US$16.00k||0.20% $393.9k|
|Independent Director||27.5yrs||US$20.95k||3.27% $6.4m|
|Independent Director||22.5yrs||US$19.75k||0.27% $533.9k|
|Independent Director||13.17yrs||US$17.55k||no data|
|Independent Director||10.42yrs||US$18.75k||1.23% $2.4m|
|Independent Director||9.17yrs||US$17.10k||0.056% $109.9k|
|Independent Director||3.58yrs||US$19.80k||0.024% $46.5k|
Experienced Board: SMMF's board of directors are seasoned and experienced ( 16.8 years average tenure).
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
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Summit Financial Group, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Summit Financial Group, Inc.
- Ticker: SMMF
- Exchange: NasdaqGS
- Founded: 1987
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$194.969m
- Shares outstanding: 12.97m
- Website: https://www.summitfgi.com
Number of Employees
- Summit Financial Group, Inc.
- 300 North Main Street
- West Virginia
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SMMF||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Jan 1999|
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, Southern and North Central regions of West Virginia and the Northern, and Shenandoah Valley and Southwestern regions of Virginia. The company’s community banking services include demand, savings, and time deposits; commercial, commercial real estate, construction and land development, residential real estate, and consumer loans; and mortgage warehouse lines of credit, as well as trust and wealth management, and cash management services. As of December 31, 2019, it operated through 32 banking offices. The company was founded in 1987 and is headquartered in Moorefield, West Virginia.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/09 00:03|
|End of Day Share Price||2020/07/08 00:00|
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.