Summit State Bank (NASDAQ:SSBI) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Tuesday.
Summit State Bank (SSBI) opened at $12.90 on Tuesday. Summit State Bank has a 52-week low of $11.65 and a 52-week high of $15.28. The company has a market cap of $75.76, a P/E ratio of 19.25 and a beta of 0.61.
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 firm had revenue of $4.94 million during the quarter.
Hedge funds have recently made changes to their positions in the stock. John W. Rosenthal Capital Management Inc. bought a new position in Summit State Bank during the second quarter worth $190,000. Cutler Capital Management LLC increased its position in Summit State Bank by 25.3% during the second quarter. Cutler Capital Management LLC now owns 27,261 shares of the bank’s stock worth $354,000 after acquiring an additional 5,500 shares during the period. Wells Fargo & Company MN increased its position in Summit State Bank by 0.5% during the second quarter. Wells Fargo & Company MN now owns 18,095 shares of the bank’s stock worth $235,000 after acquiring an additional 89 shares during the period. 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. Finally, Context BH Capital Management LP increased its position in Summit State Bank by 58.6% during the second quarter. Context BH Capital Management LP now owns 128,547 shares of the bank’s stock worth $1,671,000 after acquiring an additional 47,509 shares during the period. 14.23% of the stock is currently owned by institutional investors and hedge funds.
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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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