Summit State Bank (NASDAQ:SSBI – Get Free Report) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 40,700 shares, an increase of 18.3% from the December 31st total of 34,400 shares. Based on an average daily trading volume, of 20,200 shares, the days-to-cover ratio is presently 2.0 days. Approximately 0.8% of the company’s shares are sold short.
Institutional Trading of Summit State Bank
An institutional investor recently raised its position in Summit State Bank stock. Salzhauer Michael increased its position in shares of Summit State Bank (NASDAQ:SSBI – Free Report) by 30.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,046 shares of the bank’s stock after buying an additional 23,594 shares during the quarter. Salzhauer Michael’s holdings in Summit State Bank were worth $781,000 at the end of the most recent reporting period.
Summit State Bank Price Performance
Shares of SSBI stock traded down $0.17 during trading on Monday, hitting $7.32. 7,147 shares of the stock traded hands, compared to its average volume of 14,434. The firm has a market capitalization of $49.60 million, a P/E ratio of -13.55 and a beta of 0.66. The firm’s fifty day moving average price is $7.46 and its 200-day moving average price is $7.92. Summit State Bank has a 52-week low of $5.68 and a 52-week high of $12.02.
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.
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