Summit State Bank (NASDAQ:SSBI) Short Interest Up 19.5% in February

Summit State Bank (NASDAQ:SSBI) was the recipient of a large increase in short interest in 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. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 20,700 shares, the short-interest ratio is presently 2.7 days.

Hedge Funds Weigh In On Summit State Bank

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp boosted its position 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 worth $127,000 after purchasing an additional 5,306 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of Summit State Bank during the 4th quarter worth about $89,000. M3F Inc. bought a new position in shares of Summit State Bank during the 4th quarter worth about $2,295,000. Salzhauer Michael boosted its position in shares of 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Summit State Bank by 6.5% during the 4th 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.

Summit State Bank Stock Down 2.2 %

Summit State Bank stock traded down $0.21 during trading hours on Tuesday, reaching $9.28. 7,664 shares of the company’s stock were exchanged, compared to its average volume of 14,039. The firm’s 50 day simple moving average is $7.71 and its 200 day simple moving average is $7.63. Summit State Bank has a twelve month low of $5.68 and a twelve month high of $11.25. The firm has a market capitalization of $62.89 million, a PE ratio of -17.18 and a beta of 0.61.

Summit State Bank (NASDAQ:SSBI) last issued its quarterly earnings results 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.