Summit State Bank (NASDAQ:SSBI) Stock Price Passes Above Two Hundred Day Moving Average of $16.36

Summit State Bank (NASDAQ:SSBI)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.36 and traded as high as $19.37. Summit State Bank shares last traded at $18.90, with a volume of 2,197 shares changing hands.

The stock has a market cap of $114.72 million, a PE ratio of 8.75 and a beta of 0.85. The firm has a fifty day simple moving average of $17.17 and a two-hundred day simple moving average of $16.36.

Summit State Bank (NASDAQ:SSBI) last posted its quarterly earnings results on Tuesday, July 27th. The bank reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $10.57 million for the quarter.

The company also recently declared a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Friday, August 13th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $0.48 annualized dividend and a dividend yield of 2.54%.

Large investors have recently made changes to their positions in the business. Bridgeway Capital Management LLC raised its stake in shares of Summit State Bank by 16.4% in the second quarter. Bridgeway Capital Management LLC now owns 79,650 shares of the bank’s stock worth $1,238,000 after purchasing an additional 11,200 shares during the last quarter. Banc Funds Co. LLC increased its position in Summit State Bank by 14.1% during the second quarter. Banc Funds Co. LLC now owns 187,137 shares of the bank’s stock valued at $2,908,000 after acquiring an additional 23,074 shares during the last quarter. Advisor Group Holdings Inc. increased its position in Summit State Bank by 140.3% during the second quarter. Advisor Group Holdings Inc. now owns 5,631 shares of the bank’s stock valued at $88,000 after acquiring an additional 3,288 shares during the last quarter. Finally, BlackRock Inc. increased its position in Summit State Bank by 215.9% during the first quarter. BlackRock Inc. now owns 6,660 shares of the bank’s stock valued at $108,000 after acquiring an additional 4,552 shares during the last quarter. Institutional investors and hedge funds own 13.99% of the company’s stock.

Summit State Bank Company Profile (NASDAQ:SSBI)

Summit State Bank (California)is a state chartered commercial bank. It provides an array of financial services to small & medium-sized businesses, their owners & employees, entrepreneurs, high net worth families, foundations, estates and individual consumers. The firm specializes in business services, personal accounts, nonprofit programs, and mobile banking ranging from lending.

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