Summit State Bank (NASDAQ:SSBI) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Summit State Bank (NASDAQ:SSBI)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.00 and traded as high as $13.33. Summit State Bank shares last traded at $13.07, with a volume of 7,458 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Summit State Bank in a report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Summit State Bank presently has an average rating of “Sell”.

Summit State Bank Stock Performance

The business has a 50-day moving average of $12.94 and a 200 day moving average of $12.00. The stock has a market cap of $88.61 million, a PE ratio of 12.94 and a beta of 0.20.

Summit State Bank (NASDAQ:SSBI) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $7.57 million for the quarter.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. M3F Inc. boosted its holdings in shares of Summit State Bank by 17.1% during the second quarter. M3F Inc. now owns 352,850 shares of the bank’s stock worth $3,825,000 after purchasing an additional 51,417 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Summit State Bank during the third quarter worth about $1,126,000. Susquehanna International Group LLP acquired a new stake in Summit State Bank in the 3rd quarter worth about $166,000. Daytona Street Capital LLC purchased a new stake in Summit State Bank in the 4th quarter valued at about $571,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Summit State Bank during the 4th quarter valued at about $144,000.

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.