Summit State Bank (NASDAQ:SSBI) Short Interest Down 18.6% in July

Summit State Bank (NASDAQ:SSBI) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 4,800 shares, a drop of 18.6% from the June 30th total of 5,900 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,200 shares, the short-interest ratio is currently 0.8 days.

Summit State Bank Price Performance

NASDAQ SSBI traded down $0.40 on Monday, hitting $9.45. The company had a trading volume of 3,580 shares, compared to its average volume of 5,052. The company’s fifty day moving average price is $9.41 and its 200-day moving average price is $10.16. Summit State Bank has a 12-month low of $8.75 and a 12-month high of $18.12.

Summit State Bank (NASDAQ:SSBI) last released its earnings results on Tuesday, April 30th. The bank reported $0.21 EPS for the quarter. The company had revenue of $8.36 million for the quarter.

Institutional Investors Weigh In On Summit State Bank

An institutional investor recently raised its position in Summit State Bank stock. Salzhauer Michael increased its position in shares of Summit State Bank (NASDAQ:SSBI) by 6.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,197 shares of the bank’s stock after purchasing an additional 3,000 shares during the quarter. Salzhauer Michael’s holdings in Summit State Bank were worth $501,000 as of its most recent filing with the SEC.

Summit State Bank Company Profile

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.