Summit State Bank (NASDAQ:SSBI) Earns “Sell (D+)” Rating from Weiss Ratings

Summit State Bank (NASDAQ:SSBI)‘s stock had its “sell (d+)” rating reaffirmed by investment analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Summit State Bank Stock Up 0.4%

Shares of SSBI stock opened at $11.80 on Friday. Summit State Bank has a 12-month low of $6.14 and a 12-month high of $12.60. The firm has a market capitalization of $80.00 million, a price-to-earnings ratio of -73.75 and a beta of 0.21. The firm has a fifty day moving average of $11.87 and a 200-day moving average of $10.78.

Summit State Bank (NASDAQ:SSBI) last posted its earnings results on Tuesday, July 29th. The bank reported $0.36 earnings per share (EPS) for the quarter. The business had revenue of $9.49 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Summit State Bank stock. M3F Inc. increased its holdings in shares of Summit State Bank (NASDAQ:SSBI) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 301,433 shares of the bank’s stock after purchasing an additional 1,433 shares during the quarter. Summit State Bank makes up about 0.8% of M3F Inc.’s investment portfolio, making the stock its 23rd biggest holding. M3F Inc. owned 4.45% of Summit State Bank worth $2,782,000 at the end of the most recent quarter.

About Summit State Bank

Summit State Bank engages in providing an array of financial services to small and medium-sized businesses, their owners and employees, entrepreneurs, high net worth families, foundations, estates, and individual consumers. It specializes in business services, personal accounts, nonprofit programs, and mobile banking ranging from lending, checking, merchant, eBanking, automated teller machines, equity loans, and others.