Summit State Bank (NASDAQ:SSBI) Short Interest Update

Key Points

• Summit State Bank's short interest fell by 26.7% in August, totaling 6,300 shares as of August 31st, which represents only 0.1% of the total shares sold short.
• M3F Inc. increased its stake in Summit State Bank by 17.1%, acquiring an additional 51,417 shares during the second quarter, making it the firm's 22nd largest holding.
• As of the latest earnings report, Summit State Bank reported $0.36 earnings per share and revenue of $9.49 million for the quarter ending July 29th.

Summit State Bank (NASDAQ:SSBI - Get Free Report) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 6,300 shares, a decrease of 26.7% from the August 15th total of 8,600 shares. Based on an average daily trading volume, of 11,700 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the company's shares are short sold. Approximately 0.1% of the company's shares are short sold. Based on an average daily trading volume, of 11,700 shares, the short-interest ratio is currently 0.5 days.

Summit State Bank Price Performance

NASDAQ SSBI traded down $0.07 during trading on Friday, hitting $11.95. 25,328 shares of the company's stock traded hands, compared to its average volume of 6,926. The stock has a fifty day moving average of $11.82 and a two-hundred day moving average of $10.25. Summit State Bank has a 12-month low of $5.68 and a 12-month high of $12.60. The firm has a market cap of $80.99 million, a P/E ratio of -74.69 and a beta of 0.16.

Summit State Bank (NASDAQ:SSBI - Get Free Report) last posted its quarterly 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 for the quarter.

Institutional Trading of Summit State Bank

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

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.