Summit State Bank (NASDAQ:SSBI) Sees Significant Decrease in Short Interest

Posted by MarketBeat News on Apr 29th, 2024

Summit State Bank (NASDAQ:SSBI – Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 7,100 shares, a decrease of 15.5% from the March 31st total of 8,400 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 4,300 shares, the short-interest ratio is currently 1.7 days.

Analysts Set New Price Targets

Separately, TheStreet lowered shares of Summit State Bank from a “b-” rating to a “c+” rating in a research report on Thursday, January 18th.

Read Our Latest Stock Report on SSBI

Institutional Trading of Summit State Bank

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An institutional investor recently raised its position in Summit State Bank stock. Salzhauer Michael increased its stake in Summit State Bank (NASDAQ:SSBI – Free Report) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,197 shares of the bank’s stock after buying an additional 3,000 shares during the period. Salzhauer Michael’s holdings in Summit State Bank were worth $501,000 at the end of the most recent reporting period.

Summit State Bank Trading Down 2.0 %

Summit State Bank stock opened at $9.80 on Monday. The firm has a 50-day moving average of $10.58 and a 200-day moving average of $11.84. Summit State Bank has a 1-year low of $9.55 and a 1-year high of $18.67.

Summit State Bank (NASDAQ:SSBI – Get Free Report) last posted its earnings results on Tuesday, January 30th. The bank reported $0.28 earnings per share for the quarter. The firm had revenue of $8.13 million for the quarter.

About Summit State Bank

(Get Free Report)

Summit State Bank provides various banking products and services to individuals and businesses primarily in Sonoma County, California. It offers personal and business checking, money market, sweep, savings, and demand accounts; time certificates of deposit; and specialized deposit accounts, such as professional, small business packaged, tiered, and retirement plan accounts.