Short Interest in Summit State Bank (NASDAQ:SSBI) Decreases By 35.8%

Key Points

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Summit State Bank (NASDAQ:SSBI - Get Free Report) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 11,100 shares, adeclineof35.8% from the July 15th total of 17,300 shares. Approximately0.2% of the company's stock are short sold. Based on an average daily trading volume, of 13,800 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 13,800 shares, the short-interest ratio is presently 0.8 days. Approximately0.2% of the company's stock are short sold.

Hedge Funds Weigh In On Summit State Bank

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Summit State Bank by 6.5% in 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 during the period. Two Sigma Securities LLC purchased a new position in shares of Summit State Bank during the fourth quarter valued at $89,000. Northern Trust Corp grew its holdings in shares of Summit State Bank by 46.7% during the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank's stock valued at $127,000 after buying an additional 5,306 shares in the last quarter. Finally, M3F Inc. raised its position in Summit State Bank by 0.5% during the first quarter. M3F Inc. now owns 301,433 shares of the bank's stock valued at $2,782,000 after buying an additional 1,433 shares during the period.

Summit State Bank Price Performance

SSBI opened at $11.94 on Tuesday. The stock has a market capitalization of $80.92 million, a PE ratio of -74.28 and a beta of 0.16. The firm's fifty day moving average price is $11.13 and its 200 day moving average price is $9.56. Summit State Bank has a 12-month low of $5.68 and a 12-month high of $12.60.

Summit State Bank (NASDAQ:SSBI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The bank reported $0.36 EPS for the quarter. The company had revenue of $9.49 million 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.

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