Daytona Street Capital LLC Takes $571,000 Position in Summit State Bank $SSBI

Daytona Street Capital LLC bought a new stake in shares of Summit State Bank (NASDAQ:SSBI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 49,095 shares of the bank’s stock, valued at approximately $571,000. Daytona Street Capital LLC owned 0.72% of Summit State Bank at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. M3F Inc. boosted its stake in shares of Summit State Bank by 0.4% during the third quarter. M3F Inc. now owns 354,229 shares of the bank’s stock valued at $4,219,000 after purchasing an additional 1,379 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Summit State Bank during the third quarter valued at $166,000. Finally, Alliancebernstein L.P. purchased a new stake in Summit State Bank in the third quarter worth about $1,126,000.

Summit State Bank Price Performance

Shares of Summit State Bank stock opened at $13.39 on Tuesday. Summit State Bank has a 1 year low of $7.50 and a 1 year high of $14.00. The firm’s 50-day moving average is $13.38 and its two-hundred day moving average is $12.24. The stock has a market cap of $90.74 million, a price-to-earnings ratio of 13.26 and a beta of 0.18.

Summit State Bank (NASDAQ:SSBI) last issued its earnings results on Tuesday, January 27th. The bank reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $7.57 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Summit State Bank from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently 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.