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

Summit State Bank (NASDAQ:SSBI) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.73 and traded as high as $8.60. Summit State Bank shares last traded at $8.52, with a volume of 8,129 shares changing hands.

Summit State Bank Trading Up 3.9 %

The firm has a market cap of $57.74 million, a P/E ratio of -15.78 and a beta of 0.31. The stock has a 50 day simple moving average of $8.32 and a 200-day simple moving average of $7.73.

Summit State Bank (NASDAQ:SSBI) last released its earnings results on Tuesday, January 28th. The bank reported ($0.37) earnings per share for the quarter.

Institutional Trading of Summit State Bank

A number of hedge funds have recently added to or reduced their stakes in SSBI. Salzhauer Michael boosted its position in Summit State Bank by 30.1% during the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock valued at $781,000 after purchasing an additional 23,594 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Summit State Bank by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 53,004 shares of the bank’s stock valued at $405,000 after buying an additional 3,245 shares in the last quarter. M3F Inc. purchased a new position in shares of Summit State Bank in the 4th quarter worth approximately $2,295,000. Two Sigma Securities LLC bought a new position in shares of Summit State Bank during the 4th quarter worth approximately $89,000. Finally, Northern Trust Corp lifted its position in Summit State Bank by 46.7% during the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock valued at $127,000 after acquiring an additional 5,306 shares during the last quarter.

Summit State Bank Company Profile

Summit State Bank engages in providing an array of financial services to small and medium-sized businesses, their owners and employees, entrepreneurs, high net worth families, foundations, estates, and individual consumers. It specializes in business services, personal accounts, nonprofit programs, and mobile banking ranging from lending, checking, merchant, eBanking, automated teller machines, equity loans, and others.