Short Interest in Summit State Bank (NASDAQ:SSBI) Increases By 27.4%

Summit State Bank (NASDAQ:SSBI) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 37,700 shares, a growth of 27.4% from the October 31st total of 29,600 shares. Based on an average trading volume of 18,300 shares, the short-interest ratio is currently 2.1 days. Approximately 0.8% of the shares of the company are sold short.

Summit State Bank Stock Down 1.0 %

Summit State Bank stock traded down $0.08 during mid-day trading on Friday, hitting $7.59. 2,544 shares of the company’s stock traded hands, compared to its average volume of 9,848. The firm has a 50 day moving average price of $7.40 and a 200 day moving average price of $8.51. Summit State Bank has a one year low of $5.68 and a one year high of $13.49.

Summit State Bank Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, October 3rd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, October 3rd. Summit State Bank’s payout ratio is 22.22%.

Hedge Funds Weigh In On Summit State Bank

An institutional investor recently raised its position in Summit State Bank stock. Salzhauer Michael increased its holdings in shares of Summit State Bank (NASDAQ:SSBI) by 26.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,452 shares of the bank’s stock after buying an additional 12,255 shares during the quarter. Salzhauer Michael’s holdings in Summit State Bank were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

Summit State Bank Company Profile

Summit State Bank provides various banking products and services to individuals and businesses primarily in Sonoma County, California. It offers personal and business checking, money market, sweep, savings, and demand accounts; time certificates of deposit; and specialized deposit accounts, such as professional, small business packaged, tiered, and retirement plan accounts.