Summit State Bank (NASDAQ:SSBI) Short Interest Update

Summit State Bank (NASDAQ:SSBI - Get Free Report) was the recipient of a large decline in short interest in August. As of August 15th, there was short interest totaling 8,600 shares, a decline of 22.5% from the July 31st total of 11,100 shares. Based on an average daily trading volume, of 12,200 shares, the short-interest ratio is currently 0.7 days. Approximately 0.2% of the company's stock are sold short. Approximately 0.2% of the company's stock are sold short. Based on an average daily trading volume, of 12,200 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On Summit State Bank

A hedge fund recently raised its stake in Summit State Bank stock. M3F Inc. grew its holdings in shares of Summit State Bank (NASDAQ:SSBI - Free Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 301,433 shares of the bank's stock after purchasing an additional 1,433 shares during the quarter. Summit State Bank makes up approximately 0.8% of M3F Inc.'s holdings, making the stock its 23rd biggest position. M3F Inc. owned about 4.45% of Summit State Bank worth $2,782,000 at the end of the most recent quarter.

Summit State Bank Price Performance

Summit State Bank stock traded up $0.09 during mid-day trading on Friday, reaching $11.95. The stock had a trading volume of 6,288 shares, compared to its average volume of 3,439. The company has a market capitalization of $81.02 million, a price-to-earnings ratio of -74.69 and a beta of 0.16. The company has a 50-day moving average price of $11.77 and a two-hundred day moving average price of $10.13. Summit State Bank has a one year low of $5.68 and a one year high of $12.60.

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

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.