Summit State Bank (NASDAQ:SSBI) Short Interest Update

Summit State Bank (NASDAQ:SSBI) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 53,600 shares, a decline of 20.7% from the March 15th total of 67,600 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 14,500 shares, the short-interest ratio is presently 3.7 days.

Summit State Bank Stock Up 1.8 %

NASDAQ:SSBI opened at $8.47 on Friday. The stock has a market cap of $57.40 million, a price-to-earnings ratio of -15.68 and a beta of 0.31. The company’s 50 day moving average price is $8.47 and its 200-day moving average price is $7.72. Summit State Bank has a 52 week low of $5.68 and a 52 week high of $10.93.

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

Hedge Funds Weigh In On Summit State Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. M3F Inc. bought a new stake in shares of Summit State Bank in the fourth quarter worth approximately $2,295,000. Salzhauer Michael grew its position 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 purchasing an additional 23,594 shares during the period. Geode Capital Management LLC raised its stake in Summit State Bank by 6.5% during the 4th 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 during the last quarter. Northern Trust Corp lifted its holdings in shares of Summit State Bank by 46.7% during the 4th 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 during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of Summit State Bank in the 4th quarter worth $89,000.

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.