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Last $11.55 USD
Change Today -0.06 / -0.52%
Volume 4.3K
As of 8:10 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

summit financial group inc (SMMF) Snapshot

Open
$11.63
Previous Close
$11.61
Day High
$11.63
Day Low
$11.48
52 Week High
04/27/15 - $13.09
52 Week Low
10/2/14 - $9.61
Market Cap
125.2M
Average Volume 10 Days
6.2K
EPS TTM
$1.58
Shares Outstanding
10.8M
EX-Date
09/11/15
P/E TM
7.3x
Dividend
$0.32
Dividend Yield
1.39%
Current Stock Chart for SUMMIT FINANCIAL GROUP INC (SMMF)

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summit financial group inc (SMMF) Details

Summit Financial Group, Inc. operates as a financial holding company for Summit Community Bank 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 Northern region of Virginia. Its community banking services include demand, savings, and time deposits; commercial, commercial real estate, construction and development, residential real estate, and consumer loans; letters of credit; and cash management services. The company also operates as an insurance agency that provides commercial and personal lines of insurance products comprising group health, life, and disability benefit plans. As of June 1, 2015, it operated 15 banking offices. Summit Financial Group, Inc. was founded in 1987 and is headquartered in Moorefield, West Virginia.

222 Employees
Last Reported Date: 03/2/15
Founded in 1987

summit financial group inc (SMMF) Top Compensated Officers

Vice Chairman, Chief Executive Officer, Presi...
Total Annual Compensation: $437.5K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $227.5K
Chief Operating Officer and Senior Vice Presi...
Total Annual Compensation: $227.5K
Compensation as of Fiscal Year 2014.

summit financial group inc (SMMF) Key Developments

Summit Financial Group, Inc. Announces Third Quarter of 2015 Dividend, Payable on September 30, 2015

Summit Financial Group Inc. announced its Board of Directors recently declared a third quarter 2015 dividend of $0.08 per share payable on September 30, 2015 to common shareholders of record as of the close of business on September 15, 2015.

Summit Financial Group Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Net charge-offs for the Second Quarter of 2015

Summit Financial Group Inc. announced earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s net income applicable to common shares of $4.01 million, or $0.38 per diluted share, compared to $2.24 million, or $0.25 per diluted share, for the second quarter of 2014, representing an increase of 79.1%, or 52.0% per diluted share. The second quarter of 2015 earnings compared to second quarter of 2014 were positively impacted by an $802,000 decline in write-downs of foreclosed properties, a $500,000 decrease in provision for loan losses, and a $1.14 million increase in net interest income. Total revenue for second quarter 2015, consisting of net interest income and noninterest income, grew 9.9% to $14.3 million compared to $13.0 million for the second quarter 2014. Total core revenue (excluding nonrecurring items, enumerated above) was $14.1 million for second quarter 2015 compared to $13.1 million for the same prior-year quarter, an increase of 8.3%. Net interest income was $11.5 million, an increase of 11.0% from the $10.3 million reported in the prior-year second quarter and decreased $62,000 compared to the linked quarter. Income before income taxes was $5,757,000 compared to $3,495,000 a year ago. Return on average equity was 11.67% compared to 8.37% a year ago. Return on average tangible equity was 12.36% compared to 8.98% a year ago. Return on average assets was 1.09% compared to 0.69% a year ago. Book value per common share was $12.92 at June 30, 2015 compared to $12.21 at June 30, 2014. Tangible book value per common share increased to $12.22 at June 30, 2015 compared to $11.86 at December 31, 2014 and $11.40 at June 30, 2014. For the six months ended June 30, 2015, the company recorded net income applicable to common shares of $8.29 million, or $0.78 per diluted share, compared with $4.44 million, or $0.50 per diluted share, for the comparable 2014 six-month period, representing an increase of 87.0%, or 56.0% per diluted share. For the year-to-date period ended June 30, 2015, total revenue was $29.0 million compared to $25.8 million for the same period of 2014, representing a 12.1% increase. For the first half of 2015, total core revenue (excluding nonrecurring items) was $28.2 million compared to $25.9 million for the first half of 2014, an 8.6% improvement. Income before income taxes was $11,961,000 compared to $6,819,000 a year ago. Return on average equity was 12.22% compared to 8.42% a year ago. Return on average tangible equity was 12.95% compared to 9.04% a year ago. Return on average assets was 1.14% compared to 0.69% a year ago. Second quarter 2015 net loan charge-offs were $56,000, or 0.02% of average loans annualized; while adding $500,000 to the allowance for loan losses.

Summit Financial Group Appoints William Kirkwood as Executive Vice President of Risk Management

William Kirkwood has joined Summit Financial Group as executive vice president of risk management. Kirkwood has 40 years of commercial underwriting experience. He is a chartered property casualty underwriter, certified insurance counselor and a licensed producer.

 

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SMMF:US $11.55 USD -0.06

SMMF Competitors

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Company Last Change
First Citizens Bancshares Inc/TN $47.00 USD 0.00
Middleburg Financial Corp $17.11 USD -0.07
MVB Financial Corp $15.40 USD 0.00
Premier Financial Bancorp Inc $15.10 USD -0.179
WashingtonFirst Bankshares Inc $18.10 USD +0.05
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Industry Analysis

SMMF

Industry Average

Valuation SMMF Industry Range
Price/Earnings 8.2x
Price/Sales 2.2x
Price/Book 0.9x
Price/Cash Flow 8.5x
TEV/Sales NM Not Meaningful
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