Short Interest in Summit State Bank (NASDAQ:SSBI) Decreases By 35.8%
Summit State Bank (NASDAQ:SSBI) experienced a significant decrease in short interest, dropping 35.8% in July, with total short interest at 11,100 shares as of July 31. This represents approximately 0.2% of the company's shares. The days-to-cover ratio is currently 0.8 days based on an average daily trading volume of 13,800 shares. The bank's stock opened at $11.94, with a market cap of $80.92 million and a PE ratio of -74.28. Analysts currently hold a 'Hold' rating on the stock.
Summit State Bank (NASDAQ:SSBI - Get Free Report) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 11,100 shares, adeclineof35.8% from the July 15th total of 17,300 shares. Approximately0.2% of the company's stock are short sold. Based on an average daily trading volume, of 13,800 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 13,800 shares, the short-interest ratio is presently 0.8 days. Approximately0.2% of the company's stock are short sold.
Get Summit State Bank alerts:
Hedge Funds Weigh In On Summit State Bank
A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Summit State Bank by 6.5% in the 4th 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. Two Sigma Securities LLC purchased a new position in shares of Summit State Bank during the fourth quarter valued at $89,000. Northern Trust Corp grew its holdings 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 valued at $127,000 after buying an additional 5,306 shares in the last quarter. Finally, M3F Inc. raised its position in Summit State Bank by 0.5% during the first quarter. M3F Inc. now owns 301,433 shares of the bank's stock valued at $2,782,000 after buying an additional 1,433 shares during the period.
Summit State Bank Price Performance
SSBI opened at $11.94 on Tuesday. The stock has a market capitalization of $80.92 million, a PE ratio of -74.28 and a beta of 0.16. The firm's fifty day moving average price is $11.13 and its 200 day moving average price is $9.56. Summit State Bank has a 12-month low of $5.68 and a 12-month high of $12.60.
Summit State Bank (NASDAQ:SSBI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The bank reported $0.36 EPS for the quarter. The company had revenue of $9.49 million for the quarter.
Summit State Bank Company Profile
(Get Free Report)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.
Further Reading
- Five stocks we like better than Summit State Bank
- Most Volatile Stocks, What Investors Need to Know
- Wall Street Bets Boeing Stock Is Making a Comeback
- Find and Profitably Trade Stocks at 52-Week Lows
- Hyperscaler Spending Could Supercharge Super Micro Computer Stock
- 2 Rising CRM Platform Stocks That Can Surge Higher in 2025
- 3 Subscription Stocks Built to Withstand Market Volatility
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Summit State Bank Right Now?
Before you consider Summit State Bank, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Summit State Bank wasn't on the list.
While Summit State Bank currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
