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

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 $10.62 and traded as high as $11.90. Summit State Bank shares last traded at $11.75, with a volume of 7,884 shares.

Wall Street Analyst Weigh In

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

Summit State Bank Price Performance

The stock has a market capitalization of $79.67 million, a price-to-earnings ratio of -73.44 and a beta of 0.21. The business has a 50 day simple moving average of $11.87 and a 200-day simple moving average of $10.62.

Summit State Bank (NASDAQ:SSBI) last released its quarterly earnings results on Tuesday, July 29th. The bank reported $0.36 earnings per share (EPS) for the quarter. The firm had revenue of $9.49 million during the quarter.

Institutional Trading of Summit State Bank

An institutional investor recently raised its position in Summit State Bank stock. M3F Inc. increased its holdings in shares of Summit State Bank (NASDAQ:SSBI) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 301,433 shares of the bank’s stock after acquiring an additional 1,433 shares during the quarter. Summit State Bank comprises about 0.8% of M3F Inc.’s investment portfolio, making the stock its 23rd largest holding. M3F Inc. owned approximately 4.45% of Summit State Bank worth $2,782,000 at the end of the most recent quarter.

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.