Kennedy Capital Management Inc. increased its position in Summit State Bank (NASDAQ:SSBI) by 25.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 249,278 shares of the bank’s stock after acquiring an additional 50,505 shares during the period. Kennedy Capital Management Inc. owned about 4.20% of Summit State Bank worth $3,141,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SSBI. Banc Funds Co. LLC raised its holdings 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 acquiring an additional 15,400 shares during the last quarter. Dimensional Fund Advisors LP raised 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 worth $543,000 after acquiring an additional 810 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings 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 acquiring an additional 89 shares during the last quarter. Institutional investors own 15.44% of the company’s stock.
Separately, TheStreet upgraded shares of Summit State Bank from a “c+” rating to a “b” rating in a report on Wednesday, February 14th.
Summit State Bank (NASDAQ:SSBI) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.13 earnings per share for the quarter. The company had revenue of $5.76 million for the quarter.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.53%. Summit State Bank’s dividend payout ratio is presently 80.00%.
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Summit State Bank 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.
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