Summit State Bank (NASDAQ:SSBI) Stock Crosses Above 200 Day Moving Average – What’s Next?

Summit State Bank (NASDAQ:SSBI)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.85 and traded as high as $11.38. Summit State Bank shares last traded at $10.85, with a volume of 77,154 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Summit State Bank in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Summit State Bank presently has a consensus rating of “Sell”.

Summit State Bank Stock Performance

The business’s fifty day moving average is $11.85 and its two-hundred day moving average is $10.85. The company has a market cap of $73.56 million, a P/E ratio of -67.81 and a beta of 0.21.

Summit State Bank (NASDAQ:SSBI) last announced its quarterly earnings data on Wednesday, October 29th. The bank reported $0.12 earnings per share for the quarter.

Institutional Investors Weigh In On Summit State Bank

A hedge fund recently raised its stake in Summit State Bank stock. M3F Inc. boosted its stake in shares of Summit State Bank (NASDAQ:SSBI) by 0.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,433 shares of the bank’s stock after buying an additional 1,433 shares during the quarter. Summit State Bank makes up 0.8% of M3F Inc.’s portfolio, making the stock its 23rd largest position. M3F Inc. owned 4.45% of Summit State Bank worth $2,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Summit State Bank

Summit State Bank engages in providing an array of financial services to small and medium-sized businesses, their owners and employees, entrepreneurs, high net worth families, foundations, estates, and individual consumers. It specializes in business services, personal accounts, nonprofit programs, and mobile banking ranging from lending, checking, merchant, eBanking, automated teller machines, equity loans, and others.