Summit State Bank (NASDAQ:SSBI) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Summit State Bank (NASDAQ: SSBI) recently crossed above its 200-day moving average
• Weiss Ratings upgraded SSBI from "sell (d+)" to "hold (c)," and MarketBeat shows a consensus analyst rating of "Hold."
• Several institutional investors (including Renaissance Technologies and AllianceBernstein) have established new stakes; the bank has a market cap of ~$93.3M, a P/E of 13.63, and reported quarterly EPS of $0.16 on $7.57M in revenue.

Summit State Bank (NASDAQ:SSBI - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.39 and traded as high as $13.71. Summit State Bank shares last traded at $13.7650, with a volume of 3,291 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Summit State Bank from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Summit State Bank Stock Up 0.4%

The stock has a market capitalization of $93.33 million, a price-to-earnings ratio of 13.63 and a beta of 0.18. The stock has a fifty day moving average of $13.37 and a 200-day moving average of $12.39.

Summit State Bank (NASDAQ:SSBI - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $0.16 earnings per share for the quarter. The company had revenue of $7.57 million for the quarter.

Hedge Funds Weigh In On Summit State Bank

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in shares of Summit State Bank during the fourth quarter worth about $144,000. Wealthspire Advisors LLC purchased a new stake in shares of Summit State Bank in the 4th quarter valued at about $145,000. Susquehanna International Group LLP purchased a new stake in shares of Summit State Bank in the 3rd quarter valued at about $166,000. Daytona Street Capital LLC acquired a new stake in shares of Summit State Bank in the 4th quarter valued at about $571,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Summit State Bank in the 3rd quarter valued at about $1,126,000.

Summit State Bank Company Profile

Summit State Bank NASDAQ: SSBI is a California-chartered commercial bank that provides a comprehensive suite of banking and financial services to business and professional clients, as well as individuals. The bank's core business activities include commercial and industrial lending, commercial real estate financing, business deposit products, treasury management services, and consumer deposit accounts. Through these offerings, Summit State Bank aims to support the growth and operational needs of small- and mid-sized enterprises across its markets.

In addition to its commercial lending solutions, Summit State Bank offers private banking services tailored to high-net-worth individuals, including customized lending, wealth management referrals, and trust services.

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