Summit State Bank (NASDAQ:SSBI) Releases Quarterly Earnings Results

Summit State Bank (NASDAQ:SSBI) posted its quarterly earnings data on Tuesday. The bank reported $0.25 earnings per share (EPS) for the quarter, Zacks reports.

Summit State Bank Stock Up 0.4%

NASDAQ SSBI traded up $0.06 during trading hours on Tuesday, hitting $13.83. 1,286 shares of the company were exchanged, compared to its average volume of 6,055. The company has a 50 day moving average of $13.37 and a two-hundred day moving average of $12.43. Summit State Bank has a 52-week low of $7.84 and a 52-week high of $14.00. The firm has a market cap of $93.69 million, a price-to-earnings ratio of 13.69 and a beta of 0.18.

Institutional Investors Weigh In On Summit State Bank

Several large investors have recently bought and sold shares of the stock. Alliancebernstein L.P. purchased a new position in shares of Summit State Bank in the 3rd quarter valued at about $1,126,000. Susquehanna International Group LLP acquired a new stake in Summit State Bank during the 3rd quarter worth approximately $166,000. Wealthspire Advisors LLC acquired a new position in Summit State Bank in the fourth quarter valued at $145,000. Finally, Renaissance Technologies LLC acquired a new position in Summit State Bank in the fourth quarter valued at $144,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Summit State Bank from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Summit State Bank currently has a consensus rating of “Hold”.

Summit State Bank Company Profile

Summit State Bank (NASDAQ: SSBI) is a California-chartered commercial bank that provides a comprehensive suite of banking and financial services to business and professional clients, as well as individuals. The bank’s core business activities include commercial and industrial lending, commercial real estate financing, business deposit products, treasury management services, and consumer deposit accounts. Through these offerings, Summit State Bank aims to support the growth and operational needs of small- and mid-sized enterprises across its markets.

In addition to its commercial lending solutions, Summit State Bank offers private banking services tailored to high-net-worth individuals, including customized lending, wealth management referrals, and trust services.