Banc Funds Co. LLC Decreases Position in Summit State Bank $SSBI

Banc Funds Co. LLC cut its holdings in Summit State Bank (NASDAQ:SSBI) by 16.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 323,108 shares of the bank’s stock after selling 62,020 shares during the period. Banc Funds Co. LLC’s holdings in Summit State Bank were worth $3,848,000 at the end of the most recent quarter.

Separately, Alliancebernstein L.P. bought a new position in shares of Summit State Bank during the third quarter valued at about $1,126,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Summit State Bank in a report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Summit State Bank Stock Performance

NASDAQ:SSBI opened at $13.21 on Friday. Summit State Bank has a fifty-two week low of $7.50 and a fifty-two week high of $14.00. The firm has a market cap of $89.56 million, a PE ratio of 13.08 and a beta of 0.19. The business has a 50 day moving average price of $13.23 and a 200-day moving average price of $12.09.

Summit State Bank (NASDAQ:SSBI) last issued its earnings results on Tuesday, January 27th. The bank reported $0.16 EPS for the quarter. The firm had revenue of $7.57 million during the quarter.

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.