Summit State Bank (NASDAQ:SSBI) Shares Cross Above 200-Day Moving Average of $14.77

Summit State Bank (NASDAQ:SSBI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.77 and traded as high as $16.25. Summit State Bank shares last traded at $16.10, with a volume of 1,703 shares changing hands.

The stock has a 50 day simple moving average of $16.46 and a 200 day simple moving average of $14.77. The stock has a market cap of $97.73 million, a price-to-earnings ratio of 10.32 and a beta of 0.82.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 21st. Shareholders of record on Friday, May 14th will be paid a $0.12 dividend. The ex-dividend date is Thursday, May 13th. This represents a $0.48 dividend on an annualized basis and a yield of 2.98%.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Summit State Bank by 215.9% in the first quarter. BlackRock Inc. now owns 6,660 shares of the bank’s stock valued at $108,000 after acquiring an additional 4,552 shares during the period. Renaissance Technologies LLC bought a new position in shares of Summit State Bank in the fourth quarter valued at approximately $163,000. Traverso Chambers Private Wealth Management LLC lifted its holdings in shares of Summit State Bank by 1.7% in the fourth quarter. Traverso Chambers Private Wealth Management LLC now owns 81,810 shares of the bank’s stock valued at $1,103,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Kennedy Capital Management Inc. lifted its holdings in shares of Summit State Bank by 0.8% in the fourth quarter. Kennedy Capital Management Inc. now owns 190,792 shares of the bank’s stock valued at $2,572,000 after purchasing an additional 1,581 shares in the last quarter. 14.29% of the stock is owned by hedge funds and other institutional investors.

About Summit State Bank (NASDAQ:SSBI)

Summit State Bank provides various banking products and services to individuals and businesses primarily in Sonoma County, California. It offers personal and business checking, money market, sweep, savings, and demand accounts; time certificates of deposit; and specialized deposit accounts, such as professional, small business packaged, tiered, individual retirement, and other retirement plan accounts.

Featured Story: How does a margin account work?

Receive News & Ratings for Summit State Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit State Bank and related companies with MarketBeat.com's FREE daily email newsletter.