Summit State Bank (NASDAQ:SSBI) Short Interest Update

Summit State Bank (NASDAQ:SSBI) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totaling 9,322 shares, an increase of 40.2% from the November 30th total of 6,648 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 10,050 shares, the short-interest ratio is presently 0.9 days. Based on an average daily volume of 10,050 shares, the short-interest ratio is presently 0.9 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Trading of Summit State Bank

Large investors have recently made changes to their positions in the company. M3F Inc. increased its position in Summit State Bank by 17.1% during the second quarter. M3F Inc. now owns 352,850 shares of the bank’s stock worth $3,825,000 after buying an additional 51,417 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Summit State Bank in the third quarter valued at approximately $166,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Summit State Bank during the third quarter worth approximately $1,126,000.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Summit State Bank in a report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Summit State Bank Trading Down 0.4%

Shares of Summit State Bank stock opened at $11.70 on Tuesday. The company has a fifty day simple moving average of $11.15 and a 200-day simple moving average of $11.40. The stock has a market cap of $79.29 million, a price-to-earnings ratio of -90.00 and a beta of 0.20. Summit State Bank has a 12-month low of $6.95 and a 12-month high of $12.60.

Summit State Bank (NASDAQ:SSBI) last announced its quarterly earnings results on Wednesday, October 29th. The bank reported $0.12 earnings per share for the quarter. The company had revenue of $9.55 million during the quarter.

About Summit State Bank

Summit State Bank (NASDAQ: SSBI) is a California-chartered commercial bank that provides a comprehensive suite of banking and financial services to business and professional clients, as well as individuals. The bank’s core business activities include commercial and industrial lending, commercial real estate financing, business deposit products, treasury management services, and consumer deposit accounts. Through these offerings, Summit State Bank aims to support the growth and operational needs of small- and mid-sized enterprises across its markets.

In addition to its commercial lending solutions, Summit State Bank offers private banking services tailored to high-net-worth individuals, including customized lending, wealth management referrals, and trust services.