Summit State Bank (NASDAQ:SSBI) Stock Crosses 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 Tuesday . The stock has a 200-day moving average of $12.90 and traded as high as $13.49. Summit State Bank shares last traded at $13.4550, with a volume of 465 shares traded.

Analyst Ratings Changes

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

Summit State Bank Price Performance

The firm has a market capitalization of $91.16 million, a P/E ratio of 15.11 and a beta of 0.18. The company’s 50-day simple moving average is $13.56 and its two-hundred day simple moving average is $12.94.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new position in Summit State Bank in the fourth quarter worth approximately $144,000. Wealthspire Advisors LLC bought a new position in Summit State Bank in the fourth quarter worth approximately $145,000. Susquehanna International Group LLP bought a new position in Summit State Bank in the third quarter worth approximately $166,000. Daytona Street Capital LLC bought a new position in Summit State Bank in the fourth quarter worth approximately $571,000. Finally, Alliancebernstein L.P. bought a new position in Summit State Bank in 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.