Summit State Bank (NASDAQ:SSBI) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b” rating in a report released on Wednesday.

Summit State Bank (NASDAQ:SSBI) traded down $0.45 during trading hours on Wednesday, reaching $12.55. 13,600 shares of the company were exchanged, compared to its average volume of 6,817. Summit State Bank has a 1-year low of $11.24 and a 1-year high of $15.28. The company has a market capitalization of $77.10, a price-to-earnings ratio of 19.40 and a beta of 0.62.

Summit State Bank (NASDAQ:SSBI) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.17 EPS for the quarter. The business had revenue of $4.94 million for the quarter.

A number of large investors have recently added to or reduced their stakes in SSBI. Kennedy Capital Management Inc. increased its position in Summit State Bank by 285.8% during the second quarter. Kennedy Capital Management Inc. now owns 122,463 shares of the bank’s stock worth $1,592,000 after acquiring an additional 90,721 shares during the period. Context BH Capital Management LP increased its holdings in Summit State Bank by 58.6% in the 2nd quarter. Context BH Capital Management LP now owns 128,547 shares of the bank’s stock valued at $1,671,000 after buying an additional 47,509 shares during the period. Banc Funds Co. LLC increased its holdings in Summit State Bank by 18.3% in the 2nd quarter. Banc Funds Co. LLC now owns 143,607 shares of the bank’s stock valued at $1,867,000 after buying an additional 22,164 shares during the period. John W. Rosenthal Capital Management Inc. bought a new position in Summit State Bank in the 2nd quarter valued at about $190,000. Finally, Dimensional Fund Advisors LP increased its holdings 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 valued at $543,000 after buying an additional 810 shares during the period. 14.23% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was copied illegally and republished in violation of US and international trademark and copyright law. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/12/08/summit-state-bank-ssbi-stock-rating-upgraded-by-thestreet.html.

Summit State Bank Company Profile

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.

Receive News & Ratings for Summit State Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit State Bank and related companies with MarketBeat.com's FREE daily email newsletter.