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

Shares of Summit State Bank (NASDAQ:SSBI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.70 and traded as high as $13.60. Summit State Bank shares last traded at $13.58, with a volume of 6,536 shares changing hands.

Analyst Upgrades and Downgrades

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

Summit State Bank Trading Up 0.4%

The business’s fifty day simple moving average is $11.71 and its two-hundred day simple moving average is $11.70. The stock has a market capitalization of $92.07 million, a P/E ratio of -104.46 and a beta of 0.18.

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

Institutional Trading of Summit State Bank

A number of hedge funds have recently modified their holdings of the company. M3F Inc. grew its holdings in shares of Summit State Bank by 17.1% during the 2nd quarter. M3F Inc. now owns 352,850 shares of the bank’s stock worth $3,825,000 after purchasing an additional 51,417 shares in the last quarter. Alliancebernstein L.P. bought a new position in Summit State Bank in the third quarter worth $1,126,000. Susquehanna International Group LLP acquired a new stake in Summit State Bank during the third quarter worth $166,000. Finally, Daytona Street Capital LLC bought a new stake in Summit State Bank in the 4th quarter valued at $571,000.

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.