Summit State Bank (NASDAQ:SSBI) Short Interest Up 22.5% in March

Summit State Bank (NASDAQ:SSBI) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 67,600 shares, an increase of 22.5% from the February 28th total of 55,200 shares. Based on an average daily volume of 21,400 shares, the days-to-cover ratio is currently 3.2 days. Currently, 1.4% of the shares of the company are short sold.

Summit State Bank Trading Down 0.5 %

Shares of Summit State Bank stock traded down $0.05 during trading on Wednesday, reaching $9.18. The company’s stock had a trading volume of 4,342 shares, compared to its average volume of 14,126. Summit State Bank has a fifty-two week low of $5.68 and a fifty-two week high of $10.93. The firm has a market cap of $62.21 million, a PE ratio of -17.00 and a beta of 0.61. The company has a 50-day moving average price of $8.14 and a two-hundred day moving average price of $7.71.

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

Hedge Funds Weigh In On Summit State Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of SSBI. Northern Trust Corp lifted its stake in shares of Summit State Bank by 46.7% in the 4th quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock worth $127,000 after acquiring an additional 5,306 shares during the period. Two Sigma Securities LLC purchased a new stake in Summit State Bank in the 4th quarter valued at approximately $89,000. M3F Inc. acquired a new position in Summit State Bank during the 4th quarter worth approximately $2,295,000. Salzhauer Michael increased its position in Summit State Bank by 30.1% during 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. Finally, Geode Capital Management LLC lifted its holdings in shares of Summit State Bank by 6.5% in 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 period.

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.