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

Shares of Summit State Bank (NASDAQ:SSBI) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.48 and traded as high as $13.45. Summit State Bank shares last traded at $13.45, with a volume of 725 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded 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 company presently has a consensus rating of “Hold”.

Summit State Bank Price Performance

The business has a 50 day simple moving average of $13.38 and a 200 day simple moving average of $12.48. The company has a market capitalization of $91.19 million, a price-to-earnings ratio of 15.11 and a beta of 0.18.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in Summit State Bank during the fourth quarter worth $144,000. Wealthspire Advisors LLC acquired a new position in Summit State Bank during the fourth quarter worth $145,000. Susquehanna International Group LLP acquired a new position in Summit State Bank during the third quarter worth $166,000. Daytona Street Capital LLC acquired a new stake in shares of Summit State Bank in the fourth quarter valued at $571,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Summit State Bank in the third quarter valued at $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.