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

Summit State Bank (NASDAQ:SSBI)‘s stock had its “sell (d+)” rating reissued by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Summit State Bank Price Performance

Shares of SSBI opened at $12.00 on Wednesday. The company has a market capitalization of $81.36 million, a price-to-earnings ratio of -75.00 and a beta of 0.21. Summit State Bank has a fifty-two week low of $6.14 and a fifty-two week high of $12.60. The business’s 50-day moving average is $11.90 and its 200-day moving average is $10.51.

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

Hedge Funds Weigh In On Summit State Bank

A hedge fund recently raised its stake in Summit State Bank stock. M3F Inc. increased its position in Summit State Bank (NASDAQ:SSBI) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 301,433 shares of the bank’s stock after buying an additional 1,433 shares during the period. Summit State Bank accounts for 0.8% of M3F Inc.’s portfolio, making the stock its 23rd largest 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.