Salzhauer Michael Raises Position in Summit State Bank (NASDAQ:SSBI)

Salzhauer Michael lifted its stake in Summit State Bank (NASDAQ:SSBI) by 26.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,452 shares of the bank’s stock after purchasing an additional 12,255 shares during the quarter. Salzhauer Michael’s holdings in Summit State Bank were worth $552,000 at the end of the most recent reporting period.

Summit State Bank Trading Up 1.4 %

Shares of NASDAQ:SSBI opened at $8.50 on Monday. Summit State Bank has a 12 month low of $7.78 and a 12 month high of $16.52. The firm’s 50-day moving average is $9.09 and its 200 day moving average is $9.58.

Summit State Bank (NASDAQ:SSBI) last issued its quarterly earnings results on Wednesday, July 31st. The bank reported $0.14 earnings per share for the quarter. The business had revenue of $7.90 million during the quarter.

Summit State Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, October 3rd will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, October 3rd. Summit State Bank’s dividend payout ratio is currently 13.22%.

Summit State Bank Profile

Summit State Bank provides various banking products and services to individuals and businesses primarily in Sonoma County, California. It offers personal and business checking, money market, sweep, savings, and demand accounts; time certificates of deposit; and specialized deposit accounts, such as professional, small business packaged, tiered, and retirement plan accounts.