Summit State Bank (NASDAQ:SSBI) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Summit State Bank (NASDAQ:SSBI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.02 and traded as high as $13.58. Summit State Bank shares last traded at $13.58, with a volume of 432 shares trading hands.

Wall Street Analyst Weigh In

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

Summit State Bank Stock Performance

The stock has a market cap of $92.07 million, a price-to-earnings ratio of 15.26 and a beta of 0.18. The business’s 50 day moving average is $13.60 and its 200-day moving average is $13.03.

Summit State Bank (NASDAQ:SSBI) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $10.06 million for the quarter.

Institutional Investors Weigh In On Summit State Bank

Several institutional investors have recently bought and sold shares of SSBI. M3F Inc. lifted its position in shares of Summit State Bank by 0.4% in the third quarter. M3F Inc. now owns 354,229 shares of the bank’s stock valued at $4,219,000 after acquiring an additional 1,379 shares in the last quarter. Alliancebernstein L.P. purchased a new position in Summit State Bank in the 3rd quarter valued at $1,126,000. Daytona Street Capital LLC purchased a new position in Summit State Bank in the 4th quarter valued at $571,000. Susquehanna International Group LLP acquired a new stake in Summit State Bank during the 3rd quarter worth $166,000. Finally, Wealthspire Advisors LLC acquired a new stake in Summit State Bank during the 4th quarter worth $145,000.

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.