Summit State Bank (NASDAQ:SSBI) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Summit State Bank's stock price has surpassed its 200-day moving average, reaching a high of $11.75, indicating strong market performance.
• The bank reported a quarterly earnings of $0.36 EPS and a revenue of $9.49 million, reflecting its financial health.
• Several hedge funds have significantly increased their stakes in Summit State Bank during the fourth quarter, highlighting growing investor interest.

Summit State Bank (NASDAQ:SSBI - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.44 and traded as high as $11.75. Summit State Bank shares last traded at $11.75, with a volume of 1,111 shares traded.

Summit State Bank Stock Up 0.9%

The business has a 50-day moving average price of $11.09 and a 200-day moving average price of $9.53. The company has a market capitalization of $80.04 million, a price-to-earnings ratio of -73.81 and a beta of 0.16.

Summit State Bank (NASDAQ:SSBI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The bank reported $0.36 EPS for the quarter. The firm had revenue of $9.49 million for the quarter.

Institutional Trading of Summit State Bank

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Summit State Bank by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 53,004 shares of the bank's stock worth $405,000 after buying an additional 3,245 shares during the period. M3F Inc. acquired a new stake in shares of Summit State Bank in the fourth quarter worth $2,295,000. Two Sigma Securities LLC acquired a new stake in shares of Summit State Bank in the fourth quarter worth $89,000. Finally, Northern Trust Corp boosted its position in shares of Summit State Bank by 46.7% in the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank's stock worth $127,000 after buying an additional 5,306 shares during the period.

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.