Summit State Bank (NASDAQ:SSBI) Sees Significant Decrease in Short Interest

Summit State Bank (NASDAQ:SSBI) saw a significant decrease in short interest in August. As of August 15th, there was short interest totaling 8,600 shares, a decrease of 22.5% from the July 31st total of 11,100 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 12,200 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 12,200 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the company’s shares are short sold.

Summit State Bank Stock Up 0.8%

Shares of Summit State Bank stock opened at $11.93 on Thursday. The company has a market cap of $80.85 million, a PE ratio of -74.53 and a beta of 0.16. The business has a 50 day moving average of $11.74 and a 200 day moving average of $10.06. Summit State Bank has a 52 week low of $5.68 and a 52 week high of $12.60.

Summit State Bank (NASDAQ:SSBI) last announced its earnings results on Tuesday, July 29th. The bank reported $0.36 EPS for the quarter. The business had revenue of $9.49 million for the quarter.

Hedge Funds Weigh In On Summit State Bank

A hedge fund recently raised its stake in Summit State Bank stock. Northern Trust Corp lifted its holdings in shares of Summit State Bank (NASDAQ:SSBI) by 46.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,662 shares of the bank’s stock after acquiring an additional 5,306 shares during the quarter. Northern Trust Corp owned approximately 0.25% of Summit State Bank worth $127,000 as of its most recent filing with the Securities & Exchange Commission.

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.