Summit State Bank (NASDAQ:SSBI) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Summit State Bank (NASDAQ:SSBI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.94 and traded as high as $13.75. Summit State Bank shares last traded at $13.75, with a volume of 1,004 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Summit State Bank in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Summit State Bank Stock Up 1.7%

The firm has a market capitalization of $93.23 million, a price-to-earnings ratio of 13.61 and a beta of 0.20. The stock has a 50 day moving average of $12.71 and a 200 day moving average of $11.94.

Summit State Bank (NASDAQ:SSBI) last released its earnings results on Tuesday, January 27th. The bank reported $0.16 EPS for the quarter. The firm had revenue of $7.57 million for the quarter.

Hedge Funds Weigh In On Summit State Bank

A number of hedge funds have recently added to or reduced their stakes in the business. M3F Inc. raised its holdings in shares of Summit State Bank by 0.4% during the third quarter. M3F Inc. now owns 354,229 shares of the bank’s stock worth $4,219,000 after purchasing an additional 1,379 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Summit State Bank during the 4th quarter valued at about $144,000. Wealthspire Advisors LLC bought a new stake in shares of Summit State Bank during the 4th quarter valued at about $145,000. Susquehanna International Group LLP acquired a new stake in Summit State Bank during the third quarter worth about $166,000. Finally, Daytona Street Capital LLC bought a new position in Summit State Bank in the fourth quarter worth about $571,000.

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.