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. Investors of record on Friday, May 3rd will be given a dividend of 0.09 per share on Thursday, May 16th. This represents a $0.36 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, May 2nd.

Southern States Bancshares has a dividend 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. Southern States Bancshares has a 1 year low of $19.61 and a 1 year high of $30.74. The firm’s 50 day moving average price is $24.94 and its 200-day moving average price is $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. The stock has a market cap of $210.99 million, a P/E ratio of 6.69 and a beta of 0.14.

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

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised 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 note on Friday, March 15th.

Institutional Investors Weigh In On Southern States Bancshares

Large investors have recently bought and sold shares of the business. Fourthstone LLC increased its holdings in shares of Southern States Bancshares by 35.2% in the 1st 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. Alliancebernstein L.P. boosted its stake in shares of Southern States Bancshares by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 410,818 shares of the company’s stock worth $8,668,000 after purchasing an additional 4,106 shares during the period. BlackRock Inc. grew its holdings in Southern States Bancshares by 473.8% during 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 position in Southern States Bancshares by 9.7% in the 4th quarter. Vanguard Group Inc. now owns 346,985 shares of the company’s stock worth $10,160,000 after purchasing an additional 30,700 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Southern States Bancshares by 132.2% in the second quarter. Geode Capital Management LLC now owns 134,882 shares of the company’s stock worth $2,846,000 after purchasing an additional 76,804 shares during the last quarter. Institutional investors own 58.73% of the company’s stock.

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.