Alert: New Earnings Report (7/28/20)-Summit State Bank (NASDAQ: SSBI).

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Summit State Bank (NASDAQ: SSBI) has reported E.P.S. of $0.37 for its second fiscal quarter (ending June 30) versus $0.19 for the same period a year ago — an increase of 95%. For the latest four quarters through June 30, E.P.S. were $1.40 compared to $0.86 a year ago — an increase of 63%.

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Recent Price Action

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Summit State Bank (NASDAQ: SSBI) stock closed at $10.22 on 7/28/20 after a very large increase of 7.5%. Moreover, this advance was accompanied by exceptionally high trading volume at 488% of normal. The stock has been weak relative to the market over the last nine months but has risen 13.4% during the last week.

Current PriceTarget Research Rating

SSBI’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.

Summit State Bank has a current Value Trend Rating of B (Positive). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Summit State Bank has a good Appreciation Score of 81 but a poor Power Rating of 27, and the Positive Value Trend Rating results.

Rating Review

In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.

About John Lafferty 80827 Articles
During his career, John has developed valuation and stock rating methodologies, managed institutional portfolios and mutual funds, and provided equity research to institutional investors on thousands of companies. He has been Director of Research at PTR since its inception in 2004.

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