Southern States Bancshares, Inc. to Issue Quarterly Dividend of $0.09 (NASDAQ:SSBK)

Southern States Bancshares, Inc. (NASDAQ:SSBK) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Friday, May 3rd will be paid a dividend of 0.09 per share on Thursday, May 16th. This represents a $0.36 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, May 2nd.

Southern States Bancshares has a payout ratio of 5.5% indicating that its dividend is sufficiently covered by earnings.

Southern States Bancshares Trading Up 1.7 %

Southern States Bancshares stock opened at $23.76 on Friday. The company has a market cap of $210.99 million, a price-to-earnings ratio of 6.69 and a beta of 0.14. The firm has a 50-day moving average of $24.94 and a 200-day moving average of $25.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.05 and a quick ratio of 1.05. Southern States Bancshares has a one year low of $19.61 and a one year high of $30.74.

Southern States Bancshares (NASDAQ:SSBK) last issued its earnings results on Monday, January 22nd. The company reported $0.81 earnings per share (EPS) for the quarter. The company had revenue of $23.52 million for the quarter. Southern States Bancshares had a net margin of 22.64% and a return on equity of 15.52%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upgraded shares of Southern States Bancshares from a “market perform” rating to an “outperform” rating and increased their price target for the company from $32.00 to $35.00 in a research report on Friday, March 15th.

Institutional Trading of Southern States Bancshares

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Southern States Bancshares by 473.8% in the 2nd quarter. BlackRock Inc. now owns 357,363 shares of the company’s stock valued at $7,540,000 after purchasing an additional 295,088 shares during the last quarter. Vanguard Group Inc. raised its holdings in Southern States Bancshares by 353.5% during the 1st quarter. Vanguard Group Inc. now owns 202,679 shares of the company’s stock valued at $4,676,000 after buying an additional 157,987 shares during the period. Fourthstone LLC lifted its position in Southern States Bancshares by 35.2% in the first quarter. Fourthstone LLC now owns 489,395 shares of the company’s stock worth $11,290,000 after buying an additional 127,295 shares during the last quarter. Waverly Advisors LLC boosted its stake in Southern States Bancshares by 506.6% during the fourth quarter. Waverly Advisors LLC now owns 103,128 shares of the company’s stock worth $2,986,000 after buying an additional 86,128 shares during the period. Finally, Geode Capital Management LLC increased its position in Southern States Bancshares by 132.2% during the second quarter. Geode Capital Management LLC now owns 134,882 shares of the company’s stock valued at $2,846,000 after acquiring an additional 76,804 shares during the last quarter. 58.73% of the stock is currently owned by institutional investors.

Southern States Bancshares Company Profile

Southern States Bancshares, Inc operates as the bank holding company for Southern States Bank that provides community banking services to businesses and individuals. The company provides various deposit products, such as savings, money market, and noninterest-bearing demand accounts; certificates of deposit; and time deposits.