Summit State Bank (NASDAQ:SSBI) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Summit State Bank (NASDAQ:SSBI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.13 and traded as high as $13.84. Summit State Bank shares last traded at $13.61, with a volume of 1,479 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Summit State Bank in a report on Wednesday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Summit State Bank Stock Up 2.9%

The firm has a 50 day moving average price of $13.61 and a 200 day moving average price of $13.14. The stock has a market capitalization of $94.92 million, a PE ratio of 15.73 and a beta of 0.18.

Summit State Bank (NASDAQ:SSBI) last announced its earnings results 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 Inflows and Outflows

A number of large investors have recently made changes to their positions in SSBI. Renaissance Technologies LLC purchased a new position in Summit State Bank during the fourth quarter worth about $144,000. Wealthspire Advisors LLC purchased a new stake in Summit State Bank in the 4th quarter valued at about $145,000. Susquehanna International Group LLP bought a new position in shares of Summit State Bank during the 3rd quarter worth approximately $166,000. Daytona Street Capital LLC bought a new position in shares of Summit State Bank during the 4th quarter worth approximately $571,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Summit State Bank in the 3rd quarter worth approximately $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.