Summit State Bank (NASDAQ:SSBI) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Summit State Bank (NASDAQ:SSBI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.66 and traded as high as $7.70. Summit State Bank shares last traded at $7.60, with a volume of 19,563 shares.

Summit State Bank Price Performance

The company has a market cap of $51.51 million, a P/E ratio of -14.07 and a beta of 0.66. The stock has a fifty day moving average price of $7.41 and a two-hundred day moving average price of $7.66.

Summit State Bank (NASDAQ:SSBI) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported ($0.37) earnings per share for the quarter.

Institutional Investors Weigh In On Summit State Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSBI. Creative Planning bought a new position in shares of Summit State Bank in the third quarter valued at approximately $116,000. Salzhauer Michael boosted its position in Summit State Bank by 30.1% in the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock worth $781,000 after purchasing an additional 23,594 shares during the last quarter. Geode Capital Management LLC grew its stake in Summit State Bank by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 53,004 shares of the bank’s stock valued at $405,000 after purchasing an additional 3,245 shares during the period. M3F Inc. purchased a new stake in shares of Summit State Bank during the 4th quarter valued at $2,295,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Summit State Bank during the 4th quarter worth $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.