Summit State Bank (NASDAQ:SSBI) Short Interest Down 66.5% in May

Summit State Bank (NASDAQ:SSBI - Get Free Report) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 11,600 shares, a decline of 66.5% from the April 30th total of 34,600 shares. Based on an average daily trading volume, of 18,800 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the company's shares are sold short.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Two Sigma Securities LLC bought a new stake in Summit State Bank during the 4th quarter valued at approximately $89,000. Northern Trust Corp raised its stake in Summit State Bank by 46.7% during the 4th 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 in the last quarter. Salzhauer Michael boosted its holdings in Summit State Bank by 30.1% in the 4th quarter. Salzhauer Michael now owns 102,046 shares of the bank's stock worth $781,000 after buying an additional 23,594 shares during the period. Finally, M3F Inc. bought a new position in Summit State Bank in the 4th quarter worth $2,295,000.

Summit State Bank Stock Up 0.8%

Shares of SSBI traded up $0.08 during trading hours on Friday, hitting $9.90. The company had a trading volume of 3,478 shares, compared to its average volume of 16,937. The firm has a market cap of $67.06 million, a P/E ratio of -18.32 and a beta of 0.14. The stock's 50 day moving average price is $9.00 and its 200 day moving average price is $8.12. Summit State Bank has a 52-week low of $5.68 and a 52-week high of $10.93.

Summit State Bank (NASDAQ:SSBI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The bank reported $0.37 EPS for the quarter. The company had revenue of $8.72 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.