Summit State Bank (NASDAQ:SSBI) Posts Earnings Results

Summit State Bank (NASDAQ:SSBI) posted its quarterly earnings data on Tuesday. The bank reported ($0.19) EPS for the quarter, Zacks reports.

Summit State Bank Trading Up 0.4%

SSBI traded up $0.05 during midday trading on Tuesday, hitting $13.16. The company’s stock had a trading volume of 302 shares, compared to its average volume of 5,872. The firm has a market cap of $89.22 million, a P/E ratio of 14.79 and a beta of 0.18. The firm has a 50-day moving average price of $13.51 and a two-hundred day moving average price of $13.42. Summit State Bank has a 52-week low of $10.35 and a 52-week high of $14.00.

Hedge Funds Weigh In On Summit State Bank

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of Summit State Bank during the 4th quarter valued at $144,000. Wealthspire Advisors LLC purchased a new position in shares of Summit State Bank in the 4th quarter worth about $145,000. Susquehanna International Group LLP purchased a new stake in shares of Summit State Bank during the 3rd quarter worth about $166,000. Finally, Alliancebernstein L.P. acquired a new stake in Summit State Bank during the 3rd quarter worth approximately $1,126,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Summit State Bank in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average 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.