Summit State Bank (NASDAQ:SSBI) Stock Price Passes Above 200-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 $7.67 and traded as high as $9.50. Summit State Bank shares last traded at $9.03, with a volume of 4,165 shares traded.

Summit State Bank Stock Performance

The company has a 50 day moving average of $7.99 and a two-hundred day moving average of $7.68. The stock has a market capitalization of $62.62 million, a PE ratio of -17.11 and a beta of 0.61.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SSBI. Salzhauer Michael grew its holdings in shares of Summit State Bank by 30.1% during the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock valued at $781,000 after buying an additional 23,594 shares during the last quarter. Northern Trust Corp lifted its position in Summit State Bank by 46.7% during the 4th quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock worth $127,000 after acquiring an additional 5,306 shares during the period. Geode Capital Management LLC grew its stake in Summit State Bank by 6.5% during 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 last quarter. Two Sigma Securities LLC acquired a new position in shares of Summit State Bank in the fourth quarter valued at about $89,000. Finally, M3F Inc. purchased a new position in shares of Summit State Bank in the fourth 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.