Summit State Bank (NASDAQ:SSBI) Short Interest Up 19.5% in February

Summit State Bank (NASDAQ:SSBI) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 55,200 shares, a growth of 19.5% from the February 13th total of 46,200 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average trading volume of 20,700 shares, the short-interest ratio is presently 2.7 days.

Summit State Bank Stock Performance

Shares of SSBI traded down $0.21 during trading hours on Tuesday, reaching $9.28. The stock had a trading volume of 7,664 shares, compared to its average volume of 14,039. Summit State Bank has a 12 month low of $5.68 and a 12 month high of $11.25. The stock has a market capitalization of $62.89 million, a PE ratio of -17.18 and a beta of 0.61. The company’s 50-day moving average is $7.71 and its two-hundred day moving average is $7.63.

Summit State Bank (NASDAQ:SSBI) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported ($0.37) earnings per share for the quarter.

Institutional Trading of Summit State Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp increased its holdings in Summit State Bank by 46.7% in the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock valued at $127,000 after purchasing an additional 5,306 shares during the period. Two Sigma Securities LLC acquired a new stake in Summit State Bank in the fourth quarter valued at $89,000. M3F Inc. acquired a new stake in Summit State Bank in the fourth quarter valued at $2,295,000. Salzhauer Michael increased its holdings in Summit State Bank by 30.1% in the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock valued at $781,000 after purchasing an additional 23,594 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Summit State Bank by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 53,004 shares of the bank’s stock worth $405,000 after acquiring an additional 3,245 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.