Summit State Bank (NASDAQ: SSBI) has reported earnings for its third fiscal quarter (ending September 30) of $0.09 versus $0.27 for the same period a year ago — a decline of -67%. For the latest four quarters through September 30, E.P.S. were $0.72 compared to $2.01 a year ago — a decline of -64%.
Recent Price Action
On 10/30/24, Summit State Bank (NASDAQ: SSBI) stock suffered a major decline of -17.2%, closing at $6.67. Moreover, this decline was accompanied by exceptionally high trading volume at 298% of normal. The stock has been weak relative to the market over the last nine months and has declined -18.4% during the last week.
Current PriceTarget Research Rating
SSBI’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a modest Value Builder.
Summit State Bank has a current Value Trend Rating of C (High 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 very high Appreciation Score of 88 but a slightly negative Power Rating of 35, resulting in the High Neutral Value Trend Rating.
Rating Review
In light of this new information and highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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