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Summit Financial Group Inc   (SMMF)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $25.2800 $-0.09 -0.355%
Day's High: $25.75 Week Perf: -4.39 %
Day's Low: $ 25.25 30 Day Perf: -10.54 %
Volume (M): 23 52 Wk High: $ 31.49
Volume (M$): $ 592 52 Wk Avg: $23.41
Open: $25.25 52 Wk Low: $17.06



 Market Capitalization (Millions $) 361
 Shares Outstanding (Millions) 14
 Employees 231
 Revenues (TTM) (Millions $) 165
 Net Income (TTM) (Millions $) 54
 Cash Flow (TTM) (Millions $) 8
 Capital Exp. (TTM) (Millions $) 7

Summit Financial Group Inc

Summit Financial Group, Inc. is a financial holding company headquartered in Moorefield, West Virginia incorporated on March 5, 1987. We provide community banking services primarily in the Eastern Panhandle and South Central regions of West Virginia and the Shenandoah Valley and Northern region of Virginia. We provide these services through our community bank subsidiary, Summit Community Bank. We also operate Summit Insurance Services, LLC in Moorefield, West Virginia and Leesburg, Virginia, which provides insurance brokerage services to individuals and businesses covering corporate and personal property and casualty insurance products, as well as group health and life insurance products and consulting services.


We provide a wide range of community banking services, including demand, savings and time deposits; commercial, real estate and consumer loans; letters of credit; and cash management services. The deposits of Summit Community are insured by the Federal Deposit Insurance Corporation ("FDIC").

In order to compete with other financial service providers, we principally rely upon personal relationships established by our officers, directors and employees with our clients, and specialized services tailored to meet our clients’ needs. We have maintained a strong community orientation by, among other things, supporting the active participation of staff members in local charitable, civic, school, religious and community development activities. We also have a marketing program that primarily utilizes local radio and newspapers to advertise. Banking, like most industries, is becoming more dependent on technology as a means of marketing to customers, including the Internet, which we also utilize. This approach, coupled with continuity of service by the same staff members, enables Summit Community to develop long-term customer relationships, maintain high quality service and respond quickly to customer needs. We believe that our emphasis on local relationship banking, together with a prudent approach to lending, are important factors in our success and growth.

All operational and support functions that are transparent to clients are centralized in order to achieve consistency and cost efficiencies in the delivery of products and services by each banking office. The central office provides services such as data processing, deposit operations, accounting, treasury management, loan administration, loan review, compliance, risk management and internal auditing to enhance our delivery of quality service. We also provide overall direction in the areas of credit policy and administration, strategic planning, marketing, investment portfolio management, human resources administration, and other financial and administrative services. The banking offices work closely with us to develop new products and services needed by their customers and to introduce enhancements to existing products and services.

Our primary lending focus is providing commercial loans to local businesses with annual sales generally ranging from $300,000 to $30 million and providing owner-occupied real estate loans to individuals. Typically, our customers have financing requirements between $50,000 and $5 million. We generally do not seek loans of more than $10 million but will consider larger lending relationships exhibiting above-average credit quality. Under our commercial banking strategy, we focus on offering a broad line of financial products and services to small and medium-sized businesses through full service banking offices. Summit Community Bank has senior management with extensive lending experience. These managers exercise substantial authority over credit and pricing decisions, subject to loan committee approval for larger credits.

We segment our loan portfolio in to the following major lending categories: commercial, commercial real estate, construction and development, residential real estate, and consumer. Commercial loans are loans made to commercial borrowers that are not secured by real estate. These encompass loans secured by accounts receivable, inventory, and equipment, as well as unsecured loans. Commercial real estate loans consist of commercial mortgages, which generally are secured by nonresidential and multi-family residential properties. Commercial real estate loans are made to many of the same customers and carry similar industry risks as the commercial loan portfolio. Construction and development loans are loans made for the purpose of financing construction or development projects. This portfolio includes commercial and residential land development loans, one-to-four family housing construction, both pre-sold and speculative in nature, multi-family housing construction, non-residential building construction, and undeveloped land. Residential real estate loans are mortgage loans to consumers and are secured primarily by a first lien deed of trust. These loans are traditional one-to-four family residential mortgages. Also included in this category of loans are second liens on one-to-four family properties, commercial loans secured by one-to-four family residence, and home equity loans. Consumer loans are loans that establish consumer credit that is granted for the consumer’s personal use. These loans include automobile loans and recreational vehicle loans, as well as personal secured and unsecured loans.



   Company Address: 300 N. Main Street Moorefield 26836 WV
   Company Phone Number: 530-1000   Stock Exchange / Ticker: NASDAQ SMMF
    Next quarterly dividend pay out on March 29, 2024.


Customers Net Income fell by SMMF's Customers Net Profit Margin fell to

-4.36 %

11.29 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BANR   -2.89%    
BK   -0.33%    
BPOP   -2.49%    
CFG   -1%    
FITB   -2.51%    
NTRS        1.27% 
• View Complete Report
   



Summit Financial Group Inc

Earnings per Share Plummets at Summit Financial Group Inc in Fourth Quarter of 2023

Investors have been closely monitoring the financial performance of Summit Financial Group Inc, especially after the recent announcement of their fourth-quarter results for 2023. While the company saw significant revenue growth of 19.558% to $45.10 million, their bottom-line deteriorated, with income falling by -15.89% to $0.98 per share.
Despite this challenging outcome, Summit Financial Group Inc remains a standout in the Regional Banks sector, where many companies are struggling with diminishing businesses and declining revenue. In the fourth quarter of 2023, the company reported net earnings of $16.372 million, a 13.61% increase from the same period a year ago. This success can be attributed to a strategic shift towards improving sales, as indicated by an increase in accounts receivable and a 36.3% net margin.

Dividend

Summit Financial Group Inc's Dividend Declared: Will There be an Increase in the Near Future?

Published Fri, Feb 23 2024 2:00 PM UTC


Summit Financial Group, Inc. Announces Q1 2024 Common Dividend of $0.22 Per Share
MOOREFIELD, W.Va., Feb. 23, 2024 - Summit Financial Group, Inc. (NASDAQ: SMMF) has recently declared a first-quarter dividend of $0.22 per share for the year 2024. The dividend will be payable on March 29, 2024, to common shareholders who hold the shares as of the closing date on March...

Dividend

Summit Financial Group Inc. Declares Lucrative Fourth Quarter Dividend, Reinforcing Solid Performance in 2023

Published Tue, Nov 28 2023 8:41 PM UTC

Summit Financial Group Declares Fourth Quarter Dividend Amidst Strong Performance in 2023
MOOREFIELD, W.Va., Nov. 28, 2023 - Summit Financial Group, Inc. (Summit) (NASDAQ: SMMF), a leading regional banking company, has announced the declaration of a fourth quarter 2023 dividend of $0.22 per share. The dividend is payable on December 29, 2023, to common shareholders of re...

Summit Financial Group Inc

SMMF's Exceptional Performance Shines Through the Recent Fiscal Period

An Optimistic Outlook for Summit Financial Group Inc: A Closer Look at the Q3 2023 Financial Results
As a financial journalist, I am constantly analyzing and interpreting financial reports to provide accurate insights for our readers. Today, I am thrilled to delve into Summit Financial Group Inc's third quarter of 2023 financial results. The company, operating within the Regional Banks industry, reported an impressive EPS of $1.09 and a revenue of $37.74 million.
While it is worth mentioning that the earnings per share decreased compared to the same quarter last year, dropping from $1.11 to $1.09, the significant rise in revenue by 20.768% shows promising growth for the company. It is noteworthy that Summit Financial Group Inc's top-line growth outpaced its industry peers in the third quarter of 2023, with them only reporting a mere 0.33% increase relative to Q3 of 2022. This demonstrates the company's ability to effectively generate revenue and highlights its competitive position in the market.

Summit Financial Group Inc

Summit Financial Group Inc Witnesses Sharp Fall in EPS Amid Surging Stock & Revenue Growth

Summit Financial Group Inc, a prominent financial services company, has witnessed a significant increase in its stock price over the past 30 days, rising by 15.57%. Additionally, its stock has grown by 29.5% over the past 12 months. These positive trends indicate a bullish sentiment towards the company's performance.
However, it is crucial to delve deeper into the financials of Summit Financial Group Inc to better understand these stock price movements. In the most recent fiscal period, the company experienced a reduction in earnings per share (EPS), despite a notable increase in revenue. The EPS plummeted by -41.3% to $0.54 per share, while revenue grew by a commendable 14.975% to $37.74 million, compared to the corresponding period the previous year.






 

Summit Financial Group Inc's Segments
 
 
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  Company Estimates  
  Revenue Outlook
Summit Financial Group Inc does not provide revenue guidance.

Earnings Outlook
Summit Financial Group Inc does not provide earnings estimates.

 
Geographic Revenue Dispersion




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