Summit State Bank (NASDAQ:SSBI) Short Interest Update

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

Summit State Bank Stock Up 1.8%

Summit State Bank stock traded up $0.18 during midday trading on Monday, hitting $10.00. The company's stock had a trading volume of 3,478 shares, compared to its average volume of 16,925. Summit State Bank has a 12 month low of $5.68 and a 12 month high of $10.93. The company has a market capitalization of $67.77 million, a PE ratio of -18.52 and a beta of 0.14. The stock's 50-day moving average price is $9.01 and its 200-day moving average price is $8.16.

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

Institutional Investors Weigh In On Summit State Bank

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in 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 buying an additional 3,245 shares in the last quarter. M3F Inc. acquired a new stake in Summit State Bank during the 4th quarter valued at $2,295,000. Two Sigma Securities LLC purchased a new position in shares of Summit State Bank during the fourth quarter valued at $89,000. Salzhauer Michael raised its position in Summit State Bank by 30.1% during the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank's stock valued at $781,000 after buying an additional 23,594 shares during the period. Finally, Northern Trust Corp raised its position in Summit State Bank by 46.7% during the fourth 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 period.

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.