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

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

Summit State Bank Stock Performance

Shares of NASDAQ:SSBI traded up $0.25 on Tuesday, hitting $12.25. The stock had a trading volume of 2,610 shares, compared to its average volume of 2,654. Summit State Bank has a twelve month low of $10.35 and a twelve month high of $14.00. The firm’s 50 day moving average price is $12.50 and its 200-day moving average price is $13.16. The company has a market capitalization of $83.06 million, a price-to-earnings ratio of 36.03 and a beta of 0.35.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Summit State Bank from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, Summit State Bank currently has an average rating of “Hold”.

Summit State Bank Company Profile

Summit State Bank is a community bank headquartered in Santa Rosa, California, serving individuals, families, professionals, and businesses in the North Bay region. The bank provides traditional banking services through its local branch network and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, consumer loans, residential real estate lending, commercial and small-business loans, lines of credit, and cash-management services.