Summit State Bank (NASDAQ:SSBI) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Summit State Bank (NASDAQ:SSBI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.32 and traded as high as $13.74. Summit State Bank shares last traded at $13.73, with a volume of 5,530 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Summit State Bank from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Summit State Bank presently has a consensus rating of “Hold”.

Summit State Bank Stock Performance

The company has a market cap of $92.82 million, a price-to-earnings ratio of 13.55 and a beta of 0.18. The firm’s 50-day moving average price is $13.36 and its 200 day moving average price is $12.34.

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

A number of institutional investors have recently bought and sold shares of the company. Wealthspire Advisors LLC acquired a new position in Summit State Bank during the fourth quarter valued at approximately $145,000. Renaissance Technologies LLC acquired a new position in Summit State Bank during the fourth quarter valued at approximately $144,000. Daytona Street Capital LLC acquired a new position in Summit State Bank during the fourth quarter valued at approximately $571,000. Susquehanna International Group LLP acquired a new position in Summit State Bank during the third quarter valued at approximately $166,000. Finally, Alliancebernstein L.P. acquired a new position in Summit State Bank during the third quarter valued at approximately $1,126,000.

About Summit State Bank

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.