Summit State Bank (SSBI) Raised to “B” at TheStreet

TheStreet upgraded shares of Summit State Bank (NASDAQ:SSBI) from a c+ rating to a b rating in a report published on Wednesday.

Summit State Bank (NASDAQ SSBI) opened at $13.35 on Wednesday. Summit State Bank has a 1-year low of $11.65 and a 1-year high of $14.50. The company has a market cap of $78.29, a PE ratio of 24.00 and a beta of 0.44.

Summit State Bank (NASDAQ:SSBI) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.13 EPS for the quarter. The business had revenue of $5.76 million during the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 16th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Thursday, February 15th. Summit State Bank’s payout ratio is 87.27%.

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in Summit State Bank by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 18,095 shares of the bank’s stock worth $235,000 after purchasing an additional 89 shares during the period. Dimensional Fund Advisors LP raised its position in Summit State Bank by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 41,760 shares of the bank’s stock worth $543,000 after purchasing an additional 810 shares during the period. Banc Funds Co. LLC raised its position in Summit State Bank by 10.7% in the 4th quarter. Banc Funds Co. LLC now owns 159,007 shares of the bank’s stock worth $2,003,000 after purchasing an additional 15,400 shares during the period. Finally, Kennedy Capital Management Inc. raised its position in Summit State Bank by 25.4% in the 4th quarter. Kennedy Capital Management Inc. now owns 249,278 shares of the bank’s stock worth $3,141,000 after purchasing an additional 50,505 shares during the period. 14.24% of the stock is currently owned by institutional investors.

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About Summit State Bank

Summit State Bank is a state-chartered commercial bank operating a traditional community banking business within its primary service area of Sonoma County in California. The Bank operates through approximately five offices located in Santa Rosa, Petaluma, Rohnert Park and Healdsburg. The Bank considers loans from Marin, Napa and San Francisco counties.

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