Summit State Bank (NASDAQ:SSBI) Sees Large Growth in Short Interest

Summit State Bank (NASDAQ:SSBI) saw a significant 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. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 20,200 shares, the days-to-cover ratio is presently 2.0 days.

Summit State Bank Stock Down 2.2 %

NASDAQ SSBI traded down $0.17 on Monday, reaching $7.32. The stock had a trading volume of 7,147 shares, compared to its average volume of 14,434. The firm has a market capitalization of $49.60 million, a price-to-earnings ratio of -13.55 and a beta of 0.66. Summit State Bank has a 12-month low of $5.68 and a 12-month high of $12.02. The stock has a fifty day moving average price of $7.46 and a two-hundred day moving average price of $7.92.

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 Trading of Summit State Bank

A hedge fund recently bought a new stake in Summit State Bank stock. Creative Planning bought a new position in shares of Summit State Bank (NASDAQ:SSBI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,750 shares of the bank’s stock, valued at approximately $116,000.

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.