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

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 $8.30 and traded as high as $10.00. Summit State Bank shares last traded at $9.91, with a volume of 2,894 shares trading hands.

Summit State Bank Price Performance

The business has a 50-day moving average of $9.13 and a two-hundred day moving average of $8.30. The company has a market cap of $67.16 million, a P/E ratio of -18.35 and a beta of 0.15.

Summit State Bank (NASDAQ:SSBI) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $0.37 EPS for the quarter. The business had revenue of $8.72 million during the quarter.

Institutional Investors Weigh In On Summit State Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M3F Inc. raised its stake in Summit State Bank by 0.5% in the first quarter. M3F Inc. now owns 301,433 shares of the bank’s stock valued at $2,782,000 after buying an additional 1,433 shares during the last quarter. Salzhauer Michael raised its stake in Summit State Bank by 30.1% in the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock valued at $781,000 after buying an additional 23,594 shares during the last quarter. Geode Capital Management LLC raised its stake in Summit State Bank by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 53,004 shares of the bank’s stock valued at $405,000 after buying an additional 3,245 shares during the last quarter. Northern Trust Corp raised its stake in Summit State Bank by 46.7% in the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock valued at $127,000 after buying an additional 5,306 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in Summit State Bank in the fourth quarter valued at about $89,000.

Summit State Bank Company Profile

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.