summit financial group, inc. is a financial holding company which provides community banking and insurance services . summit’s community banking operations consist of 15 banking offices located in the eastern panhandle and south central regions of west virginia and in the shenandoah valley and northern regions of virginia. summit financial group inc.’s affiliate entities are: summit community bank, a state chartered community bank , and summit insurance services, llc, a full lines insurance agency.
Company profile
Ticker
SMMF
Exchange
Website
CEO
H. Charles Maddy
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
SOUTH BRANCH VALLEY BANCORP INC, SUMMIT FINANCIAL GROUP INC
SEC CIK
Corporate docs
Subsidiaries
SFG II, Inc. • Summit Community Bank, Inc. ...
IRS number
550672148
SEC advisor number
801-56645
FINRA CRD number
109485
AUM ?
$4.53 bn
(as of 13 Apr 21)
Accounts
18,220
(as of 13 Apr 21)
Employees
324
(294 investment advisory or research)
Address
Summit Financial
300 NORTH MAIN ST
MOOREFIELD
WV 26836
300 NORTH MAIN ST
MOOREFIELD
WV 26836
Office hours
Monday - Friday, 9 A.M. - 5 P.M.
Phone
3045301000
SMMF stock data
Ownership
Owner | Title | From | %Ownership |
---|---|---|---|
Summit Brokerage Services, Inc. | Sole Shareholder | 12/1999 | > 75% |
Leeds, Marshall, Todd | Chief Executive Officer, Director | 08/2003 | < 5% |
Jacobs, Steven, Craig | Vice President | 08/2003 | < 5% |
Summit Financial Services Group, Inc. | Holding Company | 02/2004 | > 75% |
Aretec Group, Inc. | Shareholder; 100% of Common Stock | 06/2014 | > 75% |
Neary, Joseph, Daniel | Director | 10/2016 | < 5% |
Harrison, Brett, Lamar | Director | 07/2016 | < 5% |
Olson, Gregory, Alan | Assistant Secretary | 10/2016 | < 5% |
Smiley, Stanley, Robert | Vice President | 10/2016 | < 5% |
Bregozzo, Matthew, Gregory | Advisory Chief Compliance Officer | 10/2018 | < 5% |
Bowman, Timothy, Joseph | Principal Financial Officer | 04/2021 | < 5% |
Latest filings (excl ownership)
8-K
Burke & Herbert Annual Shareholder Meeting Date Established
19 Apr 24
10-K
2023 FY
Annual report
12 Mar 24
425
Business combination disclosure
6 Feb 24
425
Business combination disclosure
26 Jan 24
8-K
Summit Financial Group Reports Earnings of $1.11 Per Share for Fourth Quarter 2023
25 Jan 24
8-K
Departure of Directors or Certain Officers
8 Dec 23
8-K
Burke & Herbert Financial Services Corp. and Summit Financial Group, Inc. Announce Receipt of Shareholder Approval for Merger
7 Dec 23
425
Business combination disclosure
7 Dec 23
425
Business combination disclosure
20 Nov 23
425
Business combination disclosure
9 Nov 23
Latest ownership filings
13F-HR
Quarterly holdings report by institutional manager
5 Apr 24
4
James P Geary II
2 Apr 24
SC 13G
BlackRock Inc.
29 Jan 24
13F-HR
Quarterly holdings report by institutional manager
12 Jan 24
4
PATRICK FRYE
27 Dec 23
13F-HR
Quarterly holdings report by institutional manager
17 Oct 23
4
GARY L HINKLE
14 Sep 23
SC 13D/A
Castle Creek Capital Partners V, LP
5 Sep 23
4
Jill S Upson
30 Aug 23
13F-HR
Quarterly holdings report by institutional manager
13 Jul 23
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 59.56 mm | 59.56 mm | 59.56 mm | 59.56 mm | 59.56 mm | 59.56 mm |
Cash burn (monthly) | 1.23 mm | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 8.39 mm | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 51.16 mm | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 41.6 | n/a | n/a | n/a | n/a | n/a |
Institutional ownership, Q2 2023
32.7% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 75 |
Opened positions | 12 |
Closed positions | 7 |
Increased positions | 31 |
Reduced positions | 16 |
13F shares | Current |
---|---|
Total value | 77.22 bn |
Total shares | 4.81 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 811.09 k | $16.76 bn |
Castle Creek Capital Partners V | 744.73 k | $20.12 mm |
Vanguard | 562.38 k | $11.62 bn |
Dimensional Fund Advisors | 342.73 k | $7.08 bn |
SMMF Summit Financial | 244.23 k | $5.05 bn |
Geode Capital Management | 226.55 k | $4.68 bn |
STT State Street | 207.63 k | $4.29 bn |
Renaissance Technologies | 170.74 k | $3.53 mm |
River Oaks Capital | 134.06 k | $2.77 bn |
NTRS Northern Trust | 113.78 k | $2.35 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
19 Mar 24 | James P Geary II | Common Stock | Buy | Acquire P | No | No | 25.58 | 896 | 22.92 k | 31,569 |
22 Dec 23 | Frye Patrick | Common Stock | Gift | Dispose G | No | No | 0 | 1,500 | 0.00 | 19,315 |
14 Sep 23 | Gary L Hinkle | Common Stock | Buy | Acquire P | Yes | No | 24.07 | 3,367 | 81.04 k | 424,055 |
13 Sep 23 | Gary L Hinkle | Common Stock | Buy | Acquire P | Yes | No | 24.2 | 10,710 | 259.18 k | 420,688 |
12 Sep 23 | Gary L Hinkle | Common Stock | Buy | Acquire P | Yes | No | 24.1661 | 124 | 3.00 k | 409,978 |
29 Aug 23 | Jill S Upson | Common Stock | Buy | Acquire P | No | No | 24.8082 | 1,850 | 45.90 k | 2,207 |
4 May 23 | Jennings Scott C | Common Stock | Buy | Acquire P | No | No | 18.1677 | 1,000 | 18.17 k | 14,595.228 |
Press releases
Burke & Herbert Financial Services Corp. and Summit Financial Group, Inc. Announce Receipt of Regulatory Approvals and Closing Date for Merger of Equals
19 Apr 24
Summit Financial Group, Inc. Announces Q1 2024 Common Dividend of $0.22 Per Share
23 Feb 24
Burke & Herbert Financial Services Corp. Announces Fourth Quarter and Full Year 2023 Results and Declares Common Stock Dividend
26 Jan 24