Summit State Bank (NASDAQ:SSBI) Stock Crosses Above 200-Day Moving Average – Here’s Why

Summit State Bank (NASDAQ:SSBI) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.88 and traded as high as $9.78. Summit State Bank shares last traded at $9.20, with a volume of 64,122 shares.

Summit State Bank Price Performance

The company’s 50-day moving average is $8.82 and its 200-day moving average is $7.88. The firm has a market capitalization of $62.35 million, a price-to-earnings ratio of -17.04 and a beta of 0.14.

Summit State Bank (NASDAQ:SSBI) last released its earnings results on Tuesday, April 29th. The bank reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $8.72 million during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Summit State Bank by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 53,004 shares of the bank’s stock valued at $405,000 after buying an additional 3,245 shares in the last quarter. M3F Inc. acquired a new position in Summit State Bank during the fourth quarter valued at approximately $2,295,000. Two Sigma Securities LLC acquired a new position in Summit State Bank during the fourth quarter valued at approximately $89,000. Salzhauer Michael lifted its position in Summit State Bank by 30.1% during the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock valued at $781,000 after buying an additional 23,594 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Summit State Bank by 46.7% during the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock valued at $127,000 after buying an additional 5,306 shares in the last quarter.

About Summit State Bank

Summit State Bank engages in providing an array of financial services to small and medium-sized businesses, their owners and employees, entrepreneurs, high net worth families, foundations, estates, and individual consumers. It specializes in business services, personal accounts, nonprofit programs, and mobile banking ranging from lending, checking, merchant, eBanking, automated teller machines, equity loans, and others.