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

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 $12.78 and traded as high as $13.58. Summit State Bank shares last traded at $13.58, with a volume of 3,309 shares.

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 report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Summit State Bank Stock Up 0.1%

The stock’s fifty day moving average price is $13.53 and its 200 day moving average price is $12.78. The stock has a market cap of $92.07 million, a PE ratio of 15.26 and a beta of 0.18.

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

Institutional Investors Weigh In On Summit State Bank

A number of institutional investors have recently made changes to their positions in SSBI. Alliancebernstein L.P. purchased a new stake in shares of Summit State Bank during the third quarter valued at approximately $1,126,000. Daytona Street Capital LLC bought a new position in Summit State Bank during the fourth quarter valued at approximately $571,000. Susquehanna International Group LLP bought a new position in Summit State Bank during the third quarter valued at approximately $166,000. Wealthspire Advisors LLC bought a new position in Summit State Bank during the fourth quarter valued at approximately $145,000. Finally, Renaissance Technologies LLC bought a new position in Summit State Bank during the fourth quarter valued at approximately $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.