Short Interest in Summit State Bank (NASDAQ:SSBI) Rises By 81.0%

Summit State Bank (NASDAQ:SSBI) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 34,200 shares, an increase of 81.0% from the September 30th total of 18,900 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 15,600 shares, the short-interest ratio is presently 2.2 days.

Summit State Bank Stock Performance

SSBI traded down $0.07 during trading on Friday, reaching $7.94. The stock had a trading volume of 4,768 shares, compared to its average volume of 8,598. Summit State Bank has a 1-year low of $5.68 and a 1-year high of $14.17. The stock has a 50 day moving average of $8.18 and a two-hundred day moving average of $9.00.

Summit State Bank (NASDAQ:SSBI) last announced its quarterly earnings data on Wednesday, July 31st. The bank reported $0.14 earnings per share for the quarter. The firm had revenue of $7.90 million during the quarter.

Summit State Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.16 annualized dividend and a dividend yield of 2.02%. Summit State Bank’s dividend payout ratio (DPR) is 17.78%.

Institutional Trading of Summit State Bank

An institutional investor recently bought a new position in Summit State Bank stock. Creative Planning purchased a new position in Summit State Bank (NASDAQ:SSBI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,750 shares of the bank’s stock, valued at approximately $116,000.

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.