Market Overview

UPDATE: Hilliard Lyons Upgrades Summit State Bank to Long-Term Buy on Outlook, Valuation

Related SSBI
Cost Containment Continues at Westamerica - Analyst Blog
SVB Financial Upped to Strong Buy - Analyst Blog

Hilliard Lyons raised its rating on Summit State Bank (NASDAQ: SSBI) from Neutral to Long-term Buy and increased its price target to $8.

Hilliard Lyons noted, "With the stock price up 7% in the last month we feel late to the party, but our job is to assess a stock's worth at a given point in time. From here Hilliard Lyons believes SSBI is attractively priced. The above average indicated dividend appears secure in light of the bank's healthy capital level and the board's persistent declarations through the financial crisis. Potentially strong core earnings growth next year could warrant a higher valuation, pushing the price per share to our target of $8."

Summit State Bank closed at $6.91 on Monday.

Latest Ratings for SSBI

DateFirmActionFromTo
May 2013Hilliard LyonsDowngradesBuyNeutral
Nov 2012Hilliard LyonsUpgradesNeutralLong-term Buy

View More Analyst Ratings for SSBI
View the Latest Analyst Ratings

Posted-In: Hilliard LyonsAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (SSBI)

Around the Web, We're Loving...

Get Benzinga's Newsletters