Summit State Bank (NASDAQ:SSBI) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Summit State Bank (NASDAQ:SSBI) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.90 and traded as high as $13.49. Summit State Bank shares last traded at $13.4550, with a volume of 465 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Summit State Bank from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Summit State Bank Trading Up 0.3%

The company has a market cap of $91.22 million, a price-to-earnings ratio of 15.12 and a beta of 0.18. The business has a fifty day moving average price of $13.56 and a two-hundred day moving average price of $12.90.

Summit State Bank (NASDAQ:SSBI) last issued its earnings results on Tuesday, April 28th. The bank reported $0.25 earnings per share for the quarter. The business had revenue of $10.06 million during the quarter.

Hedge Funds Weigh In On Summit State Bank

A number of hedge funds have recently modified their holdings of SSBI. Alliancebernstein L.P. acquired a new position in shares of Summit State Bank in the third quarter worth $1,126,000. Daytona Street Capital LLC acquired a new position in shares of Summit State Bank in the fourth quarter worth $571,000. Susquehanna International Group LLP acquired a new position in shares of Summit State Bank in the third quarter worth $166,000. Wealthspire Advisors LLC acquired a new position in shares of Summit State Bank in the fourth quarter worth $145,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Summit State Bank in the fourth quarter worth $144,000.

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.