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

Summit State Bank (NASDAQ:SSBI) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.06 and traded as high as $12.80. Summit State Bank shares last traded at $12.80, with a volume of 844 shares trading hands.

Wall Street Analysts Forecast Growth

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

Summit State Bank Trading Down 2.2%

The firm has a market cap of $86.78 million, a PE ratio of 12.67 and a beta of 0.19. The company has a 50 day moving average price of $13.12 and a 200 day moving average price of $12.06.

Summit State Bank (NASDAQ:SSBI) last issued its quarterly earnings data 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

Several institutional investors have recently added to or reduced their stakes in SSBI. Renaissance Technologies LLC purchased a new stake in Summit State Bank in the 4th quarter worth approximately $144,000. Wealthspire Advisors LLC purchased a new stake in Summit State Bank in the 4th quarter valued at about $145,000. Susquehanna International Group LLP acquired a new stake in shares of Summit State Bank during the 3rd quarter worth $166,000. Daytona Street Capital LLC purchased a new stake in Summit State Bank during the fourth quarter valued at about $571,000. Finally, Alliancebernstein L.P. purchased a new stake in Summit State Bank during the third quarter worth approximately $1,126,000.

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.