Summit State Bank (NASDAQ:SSBI) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Summit State Bank (NASDAQ:SSBI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.33 and traded as high as $13.53. Summit State Bank shares last traded at $13.53, with a volume of 369 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Summit State Bank in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Summit State Bank Trading Up 1.6%

The company has a market capitalization of $91.73 million, a price-to-earnings ratio of 15.20 and a beta of 0.18. The firm’s 50 day simple moving average is $13.55 and its 200-day simple moving average is $13.33.

Summit State Bank (NASDAQ:SSBI) last announced its quarterly earnings data 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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Summit State Bank in the fourth quarter valued at $144,000. Wealthspire Advisors LLC purchased a new stake in shares of Summit State Bank during the 4th quarter worth $145,000. Susquehanna International Group LLP acquired a new position in shares of Summit State Bank during the 3rd quarter worth $166,000. Daytona Street Capital LLC acquired a new position in shares of Summit State Bank during the 4th quarter worth $571,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Summit State Bank in the 3rd quarter valued at about $1,126,000.

Summit State Bank Company Profile

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.