Summit State Bank (NASDAQ:SSBI) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Summit State Bank (NASDAQ:SSBI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.62 and traded as high as $11.85. Summit State Bank shares last traded at $11.66, with a volume of 2,537 shares changing hands.

Summit State Bank Stock Performance

The stock’s 50 day moving average price is $11.23 and its 200-day moving average price is $9.62. The company has a market cap of $79.05 million, a PE ratio of -72.88 and a beta of 0.16.

Summit State Bank (NASDAQ:SSBI) last posted its quarterly earnings results on Tuesday, July 29th. The bank reported $0.36 earnings per share for the quarter. The business had revenue of $9.49 million during the quarter.

Hedge Funds Weigh In On Summit State Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. M3F Inc. lifted its position in Summit State Bank by 17.1% in the second quarter. M3F Inc. now owns 352,850 shares of the bank’s stock valued at $3,825,000 after purchasing an additional 51,417 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Summit State Bank by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 53,004 shares of the bank’s stock worth $405,000 after buying an additional 3,245 shares during the period. Northern Trust Corp raised its holdings in Summit State Bank by 46.7% during the 4th quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock valued at $127,000 after buying an additional 5,306 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in Summit State Bank during the 4th quarter valued at $89,000.

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.