Summit State Bank (NASDAQ:SSBI) Shares Cross Above 200-Day Moving Average – Should You Sell?

Summit State Bank (NASDAQ:SSBI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.35 and traded as high as $11.65. Summit State Bank shares last traded at $11.65, with a volume of 1,638 shares.

Analyst Upgrades and Downgrades

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

Summit State Bank Stock Up 0.3%

The firm has a 50-day moving average price of $11.15 and a 200 day moving average price of $11.35. The firm has a market capitalization of $78.99 million, a PE ratio of -89.62 and a beta of 0.20.

Summit State Bank (NASDAQ:SSBI) last posted its quarterly earnings data on Wednesday, October 29th. The bank reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $9.55 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP acquired a new position in shares of Summit State Bank in the third quarter valued at approximately $166,000. Alliancebernstein L.P. acquired a new stake in Summit State Bank during the 3rd quarter worth approximately $1,126,000. Finally, M3F Inc. boosted its position in Summit State Bank by 0.5% in the 1st 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 period.

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.