Summit State Bank (NASDAQ:SSBI) Issues Earnings Results

Summit State Bank (NASDAQ:SSBI) issued its earnings results on Tuesday. The bank reported $0.16 EPS for the quarter, Zacks reports.

Summit State Bank Stock Up 0.8%

SSBI stock traded up $0.12 during trading on Tuesday, hitting $13.70. 2,269 shares of the company’s stock traded hands, compared to its average volume of 6,829. The firm has a market capitalization of $92.85 million, a P/E ratio of -105.35 and a beta of 0.18. Summit State Bank has a 1 year low of $6.95 and a 1 year high of $14.00. The business has a fifty day simple moving average of $11.71 and a two-hundred day simple moving average of $11.70.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Summit State Bank in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Summit State Bank stock. Susquehanna International Group LLP acquired a new position in shares of Summit State Bank (NASDAQ:SSBI) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 13,974 shares of the bank’s stock, valued at approximately $166,000. Susquehanna International Group LLP owned about 0.21% of Summit State Bank at the end of the most recent reporting period.

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.