Summit State Bank (NASDAQ:SSBI) Short Interest Update

Summit State Bank (NASDAQ:SSBI) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 12,120 shares, a growth of 30.0% from the December 15th total of 9,322 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 5,297 shares, the days-to-cover ratio is presently 2.3 days. Based on an average daily volume of 5,297 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.2% of the shares of the stock are short sold.

Summit State Bank Trading Up 3.8%

NASDAQ:SSBI traded up $0.48 during mid-day trading on Monday, reaching $12.98. 24,042 shares of the stock were exchanged, compared to its average volume of 4,476. The business has a fifty day moving average price of $11.40 and a 200 day moving average price of $11.61. Summit State Bank has a 1-year low of $6.95 and a 1-year high of $13.05. The firm has a market capitalization of $88.00 million, a PE ratio of -99.85 and a beta of 0.18.

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

Institutional Investors Weigh In On Summit State Bank

Large investors have recently modified their holdings of the stock. M3F Inc. raised its position in shares of 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 purchasing an additional 51,417 shares during the period. Susquehanna International Group LLP purchased a new position in Summit State Bank in the 3rd quarter worth about $166,000. Finally, Alliancebernstein L.P. purchased a new position in Summit State Bank in the 3rd quarter worth about $1,126,000.

Wall Street Analysts Forecast Growth

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

Summit State Bank Company Profile

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.