Summit State Bank (NASDAQ:SSBI) Short Interest Down 66.5% in May

Summit State Bank (NASDAQ:SSBI) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 11,600 shares, a decrease of 66.5% from the April 30th total of 34,600 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 18,800 shares, the short-interest ratio is currently 0.6 days.

Summit State Bank Price Performance

Shares of NASDAQ SSBI opened at $9.90 on Friday. The stock has a market capitalization of $67.06 million, a price-to-earnings ratio of -18.32 and a beta of 0.14. The business has a 50-day moving average of $9.00 and a 200-day moving average of $8.12. Summit State Bank has a fifty-two week low of $5.68 and a fifty-two week high of $10.93.

Summit State Bank (NASDAQ:SSBI) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.37 EPS for the quarter. The company had revenue of $8.72 million for the quarter.

Institutional Investors Weigh In On Summit State Bank

Several large investors have recently made changes to their positions in SSBI. Two Sigma Securities LLC acquired a new position in Summit State Bank during the fourth quarter worth $89,000. Northern Trust Corp lifted its stake in Summit State Bank by 46.7% in the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock valued at $127,000 after acquiring an additional 5,306 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 3,245 shares during the period. Salzhauer Michael grew its position in shares of Summit State Bank by 30.1% in the 4th quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock valued at $781,000 after acquiring an additional 23,594 shares during the period. Finally, M3F Inc. acquired a new position in shares of Summit State Bank during the 4th 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.