Summit State Bank (NASDAQ:SSBI) Short Interest Update

Summit State Bank (NASDAQ:SSBI) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totaling 8,600 shares, a decrease of 22.5% from the July 31st total of 11,100 shares. Based on an average trading volume of 12,200 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the shares of the stock are sold short. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 12,200 shares, the days-to-cover ratio is presently 0.7 days.

Summit State Bank Price Performance

Shares of Summit State Bank stock opened at $11.92 on Wednesday. The business has a 50 day simple moving average of $11.72 and a two-hundred day simple moving average of $10.04. Summit State Bank has a 12 month low of $5.68 and a 12 month high of $12.60. The stock has a market capitalization of $80.78 million, a P/E ratio of -74.47 and a beta of 0.16.

Summit State Bank (NASDAQ:SSBI) last announced its earnings results on Tuesday, July 29th. The bank reported $0.36 EPS for the quarter. The firm had revenue of $9.49 million for the quarter.

Institutional Investors Weigh In On Summit State Bank

An institutional investor recently raised its position in Summit State Bank stock. M3F Inc. lifted its stake in Summit State Bank (NASDAQ:SSBI) by 17.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 352,850 shares of the bank’s stock after purchasing an additional 51,417 shares during the quarter. Summit State Bank comprises about 1.1% of M3F Inc.’s holdings, making the stock its 22nd largest holding. M3F Inc. owned 5.20% of Summit State Bank worth $3,825,000 as of its most recent filing with the SEC.

Summit State Bank Company Profile

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.