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

by · The Cerbat Gem

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

Summit State Bank Price Performance

Summit State Bank stock traded up $0.05 during mid-day trading on Tuesday, reaching $13.16. The company had a trading volume of 302 shares, compared to its average volume of 5,872. The stock’s 50-day simple moving average is $13.51 and its 200-day simple moving average is $13.42. Summit State Bank has a 1 year low of $10.35 and a 1 year high of $14.00. The company has a market capitalization of $89.22 million, a P/E ratio of 14.79 and a beta of 0.18.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Summit State Bank in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Summit State Bank presently has an average rating of “Hold”.

Get Our Latest Report on Summit State Bank

Hedge Funds Weigh In On Summit State Bank

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

About Summit State Bank

(Get Free Report)

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.

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