Summit State Bank (NASDAQ:SSBI) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Summit State Bank (NASDAQ:SSBI)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.70 and traded as high as $13.60. Summit State Bank shares last traded at $13.58, with a volume of 6,536 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Summit State Bank in a research report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Summit State Bank currently has an average rating of “Sell”.

Summit State Bank Stock Up 0.4%

The stock has a market capitalization of $92.07 million, a price-to-earnings ratio of -104.46 and a beta of 0.18. The stock’s 50-day simple moving average is $11.71 and its 200 day simple moving average is $11.70.

Summit State Bank (NASDAQ:SSBI) last posted its earnings results on Wednesday, October 29th. The bank reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $9.55 million during the quarter.

Institutional Investors Weigh In On Summit State Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. M3F Inc. raised its stake in shares of Summit State Bank by 0.4% in the third quarter. M3F Inc. now owns 354,229 shares of the bank’s stock worth $4,219,000 after acquiring an additional 1,379 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Summit State Bank in the third quarter valued at approximately $1,126,000. Daytona Street Capital LLC acquired a new stake in shares of Summit State Bank in the fourth quarter valued at approximately $571,000. Finally, Susquehanna International Group LLP bought a new position in Summit State Bank in the 3rd quarter worth approximately $166,000.

About Summit State Bank

Summit State Bank (NASDAQ: SSBI) is a California-chartered commercial bank that provides a comprehensive suite of banking and financial services to business and professional clients, as well as individuals. The bank’s core business activities include commercial and industrial lending, commercial real estate financing, business deposit products, treasury management services, and consumer deposit accounts. Through these offerings, Summit State Bank aims to support the growth and operational needs of small- and mid-sized enterprises across its markets.

In addition to its commercial lending solutions, Summit State Bank offers private banking services tailored to high-net-worth individuals, including customized lending, wealth management referrals, and trust services.