Summit State Bank (NASDAQ:SSBI) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Summit State Bank (NASDAQ:SSBI)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.02 and traded as high as $13.58. Summit State Bank shares last traded at $13.58, with a volume of 432 shares changing hands.

Analyst Upgrades and Downgrades

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

Summit State Bank Stock Performance

The company has a market capitalization of $92.07 million, a price-to-earnings ratio of 15.26 and a beta of 0.18. The business’s 50-day simple moving average is $13.59 and its 200-day simple moving average is $13.02.

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

Institutional Trading of Summit State Bank

Institutional investors and hedge funds have recently made changes to their positions in the business. M3F Inc. lifted its stake in shares of Summit State Bank by 0.4% in the 3rd quarter. M3F Inc. now owns 354,229 shares of the bank’s stock valued at $4,219,000 after purchasing an additional 1,379 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of Summit State Bank during the third quarter worth $1,126,000. Susquehanna International Group LLP acquired a new stake in shares of Summit State Bank during the third quarter worth $166,000. Daytona Street Capital LLC bought a new stake in Summit State Bank in the fourth quarter valued at about $571,000. Finally, Renaissance Technologies LLC bought a new stake in Summit State Bank in the fourth quarter valued at about $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.