Summit State Bank (NASDAQ:SSBI) Short Interest Down 15.5% in April

Summit State Bank (NASDAQ:SSBI) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 7,100 shares, a decrease of 15.5% from the March 31st total of 8,400 shares. Based on an average daily trading volume, of 4,300 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.2% of the company’s stock are short sold.

Summit State Bank Stock Performance

Shares of Summit State Bank stock opened at $9.80 on Friday. The company’s 50 day moving average is $10.58 and its 200 day moving average is $11.87. Summit State Bank has a twelve month low of $9.55 and a twelve month high of $18.67.

Summit State Bank (NASDAQ:SSBI) last issued its quarterly earnings data on Tuesday, January 30th. The bank reported $0.28 earnings per share for the quarter. The company had revenue of $8.13 million for the quarter.

Summit State Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.48 dividend on an annualized basis and a yield of 4.90%. Summit State Bank’s dividend payout ratio (DPR) is 29.63%.

Wall Street Analyst Weigh In

Separately, TheStreet downgraded shares of Summit State Bank from a “b-” rating to a “c+” rating in a research report on Thursday, January 18th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Summit State Bank stock. Salzhauer Michael grew its holdings in Summit State Bank (NASDAQ:SSBI) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,197 shares of the bank’s stock after acquiring an additional 3,000 shares during the period. Salzhauer Michael’s holdings in Summit State Bank were worth $501,000 as of its most recent SEC filing.

About Summit State Bank

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.