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

Summit State Bank (NASDAQ:SSBI)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.65 and traded as high as $8.87. Summit State Bank shares last traded at $8.82, with a volume of 19,570 shares traded.

Summit State Bank Trading Up 0.7 %

The stock has a market cap of $59.77 million, a price-to-earnings ratio of -16.33 and a beta of 0.66. The firm’s 50 day moving average is $7.54 and its two-hundred day moving average is $7.65.

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

Hedge Funds Weigh In On Summit State Bank

Several institutional investors have recently added to or reduced their stakes in the business. Creative Planning acquired a new stake in Summit State Bank in the 3rd quarter worth about $116,000. Salzhauer Michael boosted its position in shares of 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 acquiring an additional 23,594 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 3,245 shares during the period. M3F Inc. acquired a new position in Summit State Bank during the fourth quarter worth approximately $2,295,000. Finally, Two Sigma Securities LLC purchased a new position in Summit State Bank during the fourth quarter worth approximately $89,000.

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.