Sturgis Bancorp Inc. (OTCMKTS:STBI) Shares Shorted: Short Interest Up 241.8% in October

Sturgis Bancorp Inc. (OTCMKTS:STBI) was the recipient of a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 270 shares, a growth of 241.8% from the October 15th total of 79 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 1,790 shares, the short-interest ratio is presently 0.2 days.

Sturgis Bancorp Stock Performance

Shares of OTCMKTS:STBI traded down $0.09 during trading hours on Thursday, hitting $28.65. 1,431 shares of the company’s stock traded hands, compared to its average volume of 3,035. Sturgis Bancorp has a 52 week low of $19.95 and a 52 week high of $29.79. The company’s fifty day simple moving average is $29.19 and its two-hundred day simple moving average is $26.45. The company has a market cap of $62.46 million, a price-to-earnings ratio of 6.92 and a beta of 0.15.

Sturgis Bancorp (OTCMKTS:STBI) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $1.17 earnings per share (EPS) for the quarter. The company had revenue of $11.72 million during the quarter.

About Sturgis Bancorp

Sturgis Bancorp, Inc. is a bank holding company headquartered in Sturgis, Michigan. Through its principal subsidiary, Sturgis Bank, the company provides community banking services to individuals, families, farmers and businesses in southern Michigan and nearby areas. Sturgis Bank offers deposit products such as checking, savings and certificates of deposit, along with residential mortgage loans, home equity financing, consumer loans and commercial lending. The bank also provides treasury management, online and mobile banking, and other financial services designed to support personal and business customers.