Summit State Bank (NASDAQ:SSBI) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Summit State Bank (NASDAQ:SSBI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.65 and traded as high as $8.69. Summit State Bank shares last traded at $8.50, with a volume of 8,083 shares traded.

Summit State Bank Stock Performance

The stock has a 50 day moving average price of $7.67 and a 200 day moving average price of $7.65. The company has a market cap of $58.08 million, a P/E ratio of -15.87 and a beta of 0.61.

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

Institutional Investors Weigh In On Summit State Bank

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Summit State Bank by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 53,004 shares of the bank’s stock worth $405,000 after purchasing an additional 3,245 shares during the period. Northern Trust Corp raised its position in shares of Summit State Bank by 46.7% during the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock worth $127,000 after purchasing an additional 5,306 shares during the period. Two Sigma Securities LLC acquired a new position in Summit State Bank during the fourth quarter valued at $89,000. Salzhauer Michael lifted its stake in Summit State Bank by 30.1% in the 4th quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock worth $781,000 after acquiring an additional 23,594 shares in the last quarter. Finally, M3F Inc. purchased a new stake in Summit State Bank in the 4th quarter worth about $2,295,000.

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.