Summit State Bank (NASDAQ: SSBI) has reported earnings for its first fiscal quarter (ending March 31) of $0.21 versus $0.62 for the same period a year ago — a decline of -66%. For the latest four quarters through March 31, E.P.S. were $1.21 compared to $2.56 a year ago — a decline of -53%.
Recent Price Action
Summit State Bank (NASDAQ: SSBI) stock increased 1.8% on 4/30/24. The shares closed at $9.97. NORMAL trading volume accompanied the advance. The stock has been extremely weak relative to the market over the last nine months but has risen 1.2% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, SSBI is expected to continue to be a modest Value Builder.
Summit State Bank has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Summit State Bank has a good Appreciation Score of 78 but a poor Power Rating of 28, resulting in the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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