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

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

Summit State Bank Price Performance

Shares of NASDAQ SSBI opened at $9.42 on Wednesday. The company has a market capitalization of $63.84 million, a price-to-earnings ratio of -17.44 and a beta of 0.61. The business has a 50-day moving average of $7.75 and a two-hundred day moving average of $7.64. Summit State Bank has a 1 year low of $5.68 and a 1 year high of $11.25.

Summit State Bank (NASDAQ:SSBI) last announced its quarterly 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 number of institutional investors have recently bought and sold shares of SSBI. Two Sigma Securities LLC purchased a new stake in Summit State Bank during the 4th quarter worth about $89,000. Northern Trust Corp lifted its holdings in Summit State Bank by 46.7% during the 4th quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock worth $127,000 after buying an additional 5,306 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Summit State Bank by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 53,004 shares of the bank’s stock worth $405,000 after purchasing an additional 3,245 shares in the last quarter. Salzhauer Michael increased its position in shares of Summit State Bank by 30.1% during the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock worth $781,000 after purchasing an additional 23,594 shares in the last quarter. Finally, M3F Inc. acquired a new stake in shares of Summit State Bank during the fourth quarter worth about $2,295,000.

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.