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

Summit State Bank (NASDAQ:SSBI) announced its quarterly earnings results on Tuesday. The bank reported ($0.16) earnings per share for the quarter, Zacks reports.

Summit State Bank Stock Up 2.1%

Shares of NASDAQ SSBI traded up $0.25 during midday trading on Tuesday, reaching $12.25. 2,610 shares of the stock were exchanged, compared to its average volume of 2,654. The firm has a market cap of $83.06 million, a price-to-earnings ratio of 36.03 and a beta of 0.35. Summit State Bank has a twelve month low of $10.35 and a twelve month high of $14.00. The firm has a 50-day simple moving average of $12.50 and a two-hundred day simple moving average of $13.16.

Analyst Ratings Changes

Separately, Weiss Ratings cut Summit State Bank from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Summit State Bank Company Profile

Summit State Bank is a community bank headquartered in Santa Rosa, California, serving individuals, families, professionals, and businesses in the North Bay region. The bank provides traditional banking services through its local branch network and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, consumer loans, residential real estate lending, commercial and small-business loans, lines of credit, and cash-management services.