Short Interest in Summit State Bank (NASDAQ:SSBI) Rises By 19.5%

Summit State Bank (NASDAQ:SSBI) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 55,200 shares, an increase of 19.5% from the February 13th total of 46,200 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average trading volume of 20,700 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On Summit State Bank

Institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC acquired a new stake in shares of Summit State Bank in the fourth quarter valued at $89,000. Northern Trust Corp grew its stake 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 valued at $127,000 after buying an additional 5,306 shares in the last quarter. Geode Capital Management LLC grew its stake 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 valued at $405,000 after buying an additional 3,245 shares in the last quarter. Salzhauer Michael grew its stake in shares of Summit State Bank by 30.1% in the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock valued at $781,000 after buying an additional 23,594 shares in the last quarter. Finally, M3F Inc. acquired a new stake in shares of Summit State Bank in the fourth quarter valued at $2,295,000.

Summit State Bank Stock Down 0.7 %

SSBI stock opened at $9.42 on Wednesday. The business has a fifty day moving average of $7.75 and a two-hundred day moving average of $7.64. The stock has a market cap of $63.84 million, a price-to-earnings ratio of -17.44 and a beta of 0.61. Summit State Bank has a 52-week low of $5.68 and a 52-week high of $11.25.

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

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.