Summit State Bank (NASDAQ:SSBI) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

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 $11.29 and traded as high as $11.60. Summit State Bank shares last traded at $11.34, with a volume of 14,180 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Summit State Bank in a report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Summit State Bank currently has a consensus rating of “Sell”.

Summit State Bank Stock Down 1.8%

The stock has a 50-day moving average of $11.18 and a 200-day moving average of $11.29. The company has a market cap of $76.89 million, a PE ratio of -87.23 and a beta of 0.20.

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

Institutional Investors Weigh In On Summit State Bank

Several hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP purchased a new position in Summit State Bank in the 3rd quarter worth approximately $166,000. Alliancebernstein L.P. bought a new stake in shares of Summit State Bank during the 3rd quarter worth $1,126,000. Finally, M3F Inc. grew its position in Summit State Bank by 0.5% in the first quarter. M3F Inc. now owns 301,433 shares of the bank’s stock worth $2,782,000 after acquiring an additional 1,433 shares in the last quarter.

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.