Summit State Bank (NASDAQ:SSBI) Short Interest Update

Summit State Bank (NASDAQ:SSBI) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 37,700 shares, a growth of 27.4% from the October 31st total of 29,600 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,300 shares, the short-interest ratio is presently 2.1 days.

Summit State Bank Stock Down 1.0 %

Shares of NASDAQ:SSBI traded down $0.08 during trading on Friday, hitting $7.59. 2,544 shares of the company were exchanged, compared to its average volume of 20,808. The business’s 50 day moving average is $7.40 and its 200-day moving average is $8.51. Summit State Bank has a 1-year low of $5.68 and a 1-year high of $13.49.

Summit State Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, October 3rd were paid a $0.04 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.16 annualized dividend and a dividend yield of 2.11%. Summit State Bank’s dividend payout ratio is 22.22%.

Institutional Trading of Summit State Bank

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

About Summit State Bank

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.