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

Summit State Bank (NASDAQ:SSBI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.35 and traded as high as $11.65. Summit State Bank shares last traded at $11.65, with a volume of 1,638 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Summit State Bank in a research report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Summit State Bank Stock Performance

The business has a 50 day simple moving average of $11.15 and a 200-day simple moving average of $11.35. The firm has a market capitalization of $78.99 million, a price-to-earnings ratio of -89.62 and a beta of 0.20.

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

Institutional Trading of Summit State Bank

Several institutional investors have recently made changes to their positions in the company. M3F Inc. grew its position in Summit State Bank by 17.1% in the second quarter. M3F Inc. now owns 352,850 shares of the bank’s stock worth $3,825,000 after acquiring an additional 51,417 shares during the period. Alliancebernstein L.P. purchased a new stake in Summit State Bank in the third quarter valued at $1,126,000. Finally, Susquehanna International Group LLP purchased a new stake in Summit State Bank in the third quarter valued at $166,000.

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.