Summit State Bank (NASDAQ:SSBI) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Summit State Bank (NASDAQ:SSBI)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.23 and traded as high as $11.38. Summit State Bank shares last traded at $11.10, with a volume of 5,100 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Summit State Bank in a report on Tuesday, December 2nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Summit State Bank Trading Up 1.7%

The firm has a market cap of $75.26 million, a PE ratio of -85.38 and a beta of 0.20. The stock’s 50 day moving average price is $11.24 and its 200 day moving average price is $11.23.

Summit State Bank (NASDAQ:SSBI) last announced its quarterly earnings results on Wednesday, October 29th. The bank reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $9.55 million during the quarter.

Institutional Trading of Summit State Bank

Several large investors have recently bought and sold shares of the company. M3F Inc. boosted its stake in shares of 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 period. Susquehanna International Group LLP acquired a new position in Summit State Bank in the 3rd quarter worth $166,000. Finally, Alliancebernstein L.P. purchased a new position in Summit State Bank in the 3rd quarter valued at about $1,126,000.

About Summit State Bank

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.