Southern States Bancshares, Inc. (SSBK) to Issue Quarterly Dividend of $0.09 on May 16th

Southern States Bancshares, Inc. (NASDAQ:SSBK) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders 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 dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, May 2nd.

Southern States Bancshares has a dividend payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings.

Southern States Bancshares Trading Up 3.7 %

Southern States Bancshares stock opened at $25.25 on Tuesday. The company has a 50 day moving average price of $24.87 and a 200 day moving average price of $25.56. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 1.05. Southern States Bancshares has a 52 week low of $19.61 and a 52 week high of $30.74. The firm has a market capitalization of $224.22 million, a price-to-earnings ratio of 7.01 and a beta of 0.14.

Analyst Upgrades and Downgrades

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

About Southern States Bancshares

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.