Summit State Bank (NASDAQ:SSBI) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Summit State Bank (NASDAQ:SSBI) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $13.25 and traded as high as $13.56. Summit State Bank shares last traded at $13.3550, with a volume of 10,418 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Summit State Bank in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Summit State Bank Stock Up 0.5%

The stock has a market cap of $90.51 million, a PE ratio of 15.01 and a beta of 0.18. The business has a 50 day moving average price of $13.57 and a 200 day moving average price of $13.25.

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

Hedge Funds Weigh In On Summit State Bank

A number of hedge funds have recently bought and sold shares of SSBI. Alliancebernstein L.P. purchased a new stake in shares of Summit State Bank in the third quarter valued at approximately $1,126,000. Susquehanna International Group LLP acquired a new stake in Summit State Bank in the 3rd quarter valued at $166,000. Daytona Street Capital LLC acquired a new stake in Summit State Bank in the 4th quarter valued at $571,000. Renaissance Technologies LLC purchased a new stake in Summit State Bank in the 4th quarter worth $144,000. Finally, Wealthspire Advisors LLC purchased a new stake in Summit State Bank in the 4th quarter worth $145,000.

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.