Summit State Bank (NASDAQ:SSBI) Short Interest Down 22.5% in August

Summit State Bank (NASDAQ:SSBI - Get Free Report) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 8,600 shares, adeclineof22.5% from the July 31st total of 11,100 shares. Approximately0.2% of the shares of the company are sold short. 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. Approximately0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Summit State Bank

A hedge fund recently raised its stake in Summit State Bank stock. Northern Trust Corp grew its holdings in Summit State Bank (NASDAQ:SSBI - Free Report) by 46.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,662 shares of the bank's stock after acquiring an additional 5,306 shares during the quarter. Northern Trust Corp owned 0.25% of Summit State Bank worth $127,000 as of its most recent SEC filing.

Summit State Bank Stock Performance

Shares of Summit State Bank stock opened at $11.76 on Tuesday. The firm has a 50-day moving average of $11.71 and a 200-day moving average of $10.03. The stock has a market cap of $79.70 million, a PE ratio of -73.50 and a beta of 0.16. Summit State Bank has a 52-week low of $5.68 and a 52-week high of $12.60.

Summit State Bank (NASDAQ:SSBI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The bank reported $0.36 earnings per share (EPS) for the quarter. The business 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.

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