Summit State Bank (NASDAQ:SSBI) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Summit State Bank (NASDAQ:SSBI) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.67 and traded as high as $9.50. Summit State Bank shares last traded at $9.03, with a volume of 4,165 shares.

Summit State Bank Stock Performance

The firm has a market capitalization of $62.62 million, a PE ratio of -17.11 and a beta of 0.61. The business’s fifty day simple moving average is $7.99 and its 200-day simple moving average is $7.68.

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

Hedge Funds 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 company. Salzhauer Michael boosted its position in shares of Summit State Bank by 30.1% during the 4th quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock valued at $781,000 after acquiring an additional 23,594 shares during the last quarter. Northern Trust Corp lifted its position in Summit State Bank by 46.7% during the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock valued at $127,000 after purchasing an additional 5,306 shares during the last quarter. Geode Capital Management LLC lifted its position in Summit State Bank by 6.5% during 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 last quarter. Two Sigma Securities LLC purchased a new position in shares of Summit State Bank in the 4th quarter worth $89,000. Finally, M3F Inc. bought a new stake in shares of Summit State Bank in the 4th quarter worth about $2,295,000.

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.