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

Summit State Bank (NASDAQ:SSBI) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 55,200 shares, an increase of 19.5% from the February 13th total of 46,200 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 20,700 shares, the short-interest ratio is currently 2.7 days.

Hedge Funds Weigh In On Summit State Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp boosted its position in shares of Summit State Bank by 46.7% during the fourth quarter. Northern Trust Corp now owns 16,662 shares of the bank’s stock worth $127,000 after buying an additional 5,306 shares during the period. Two Sigma Securities LLC acquired a new stake in Summit State Bank in the fourth quarter worth approximately $89,000. M3F Inc. acquired a new stake in Summit State Bank in the fourth quarter worth approximately $2,295,000. Salzhauer Michael lifted its position in Summit State Bank by 30.1% in the fourth quarter. Salzhauer Michael now owns 102,046 shares of the bank’s stock worth $781,000 after purchasing an additional 23,594 shares during the period. Finally, Geode Capital Management LLC lifted its position in Summit State Bank by 6.5% in the fourth 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 during the period.

Summit State Bank Trading Down 3.1 %

Shares of NASDAQ SSBI opened at $9.13 on Thursday. The stock has a 50 day simple moving average of $7.78 and a 200-day simple moving average of $7.65. The company has a market cap of $61.87 million, a PE ratio of -16.91 and a beta of 0.61. Summit State Bank has a 12-month low of $5.68 and a 12-month high of $11.25.

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