Summit State Bank (NASDAQ:SSBI) Short Interest Update

Summit State Bank (NASDAQ:SSBIGet Rating) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 9,200 shares, a growth of 411.1% from the April 30th total of 1,800 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 9,200 shares, the short-interest ratio is currently 1.0 days.

A number of hedge funds have recently made changes to their positions in the business. Banc Funds Co. LLC raised its position in Summit State Bank by 1.9% in the first quarter. Banc Funds Co. LLC now owns 209,850 shares of the bank’s stock worth $3,588,000 after acquiring an additional 4,000 shares during the period. Wellington Management Group LLP bought a new stake in Summit State Bank in the first quarter worth about $3,275,000. Traverso Chambers Private Wealth Management LLC raised its position in Summit State Bank by 10.6% in the fourth quarter. Traverso Chambers Private Wealth Management LLC now owns 85,912 shares of the bank’s stock worth $1,331,000 after acquiring an additional 8,262 shares during the period. BHZ Capital Management LP raised its position in Summit State Bank by 10.7% in the fourth quarter. BHZ Capital Management LP now owns 72,898 shares of the bank’s stock worth $1,129,000 after acquiring an additional 7,037 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Summit State Bank by 11.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 63,276 shares of the bank’s stock worth $954,000 after purchasing an additional 6,462 shares in the last quarter. 12.87% of the stock is currently owned by institutional investors and hedge funds.

SSBI opened at $15.57 on Thursday. The company’s 50-day moving average is $16.09 and its 200 day moving average is $16.01. Summit State Bank has a fifty-two week low of $13.01 and a fifty-two week high of $22.00. The firm has a market capitalization of $103.96 million, a P/E ratio of 6.79 and a beta of 0.59.

Summit State Bank (NASDAQ:SSBIGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The bank reported $0.59 earnings per share for the quarter. The firm had revenue of $11.84 million for the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 19th. Shareholders of record on Thursday, May 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.08%. The ex-dividend date was Wednesday, May 11th. Summit State Bank’s dividend payout ratio is 20.92%.

Summit State Bank Company Profile (Get Rating)

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, individual retirement, and other retirement plan accounts.

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