Summit State Bank (NASDAQ:SSBI) Short Interest Down 20.7% in March

Summit State Bank (NASDAQ:SSBI - Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 53,600 shares, a drop of 20.7% from the March 15th total of 67,600 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily volume of 14,500 shares, the days-to-cover ratio is presently 3.7 days.

Summit State Bank Stock Performance

Shares of SSBI traded down $0.02 during mid-day trading on Wednesday, reaching $7.98. 986 shares of the company's stock traded hands, compared to its average volume of 14,985. The business's 50-day moving average price is $8.53 and its 200-day moving average price is $7.75. The stock has a market capitalization of $54.08 million, a P/E ratio of -14.78 and a beta of 0.31. Summit State Bank has a 12 month low of $5.68 and a 12 month high of $10.93.

Summit State Bank (NASDAQ:SSBI - Get Free Report) last announced its earnings results on Tuesday, January 28th. The bank reported ($0.37) earnings per share for the quarter.

Institutional Investors Weigh In On Summit State Bank

Institutional investors have recently bought and sold shares of the stock. Two Sigma Securities LLC acquired a new position in Summit State Bank during the 4th quarter valued at about $89,000. Northern Trust Corp boosted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of Summit State Bank by 6.5% during the fourth 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 raised its holdings in Summit State Bank by 30.1% during the fourth 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, M3F Inc. acquired a new stake in Summit State Bank in the fourth quarter worth approximately $2,295,000.

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.